Many companies that contract the services of your company will insist you have a Waiver of subrogation clause in your insurance policy. All Insurers have a right to recover the cost of a claim that is paid out when another party is responsible for some, or all of the claims. In the oil and gas sector you will most likely be required to have a clause in your policy whereby your Insurer 'waives' (agrees to not enforce) these rights.
Our advice about these agreements
You should only sign Waiver of Subrogation where all contracting parties agree to provide the same Waiver of Subrogation to each other and all parties to any contract.
