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Insurance And Indemnification Agreement
"I need an Insurance and Indemnification Agreement under Dutch law for a technology company providing cloud services across Europe, with specific coverage for cyber risks and data breaches, including cross-border liability protection and EU GDPR compliance requirements."
1. Parties: Identification of the contracting parties including the insurer, insured, and any additional named insureds
2. Background: Context of the agreement, relationship between parties, and purpose of the insurance and indemnification arrangement
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Scope of Insurance Coverage: Detailed description of what risks are covered, coverage limits, and territorial scope
5. Premium and Payment Terms: Details of premium amounts, payment schedule, and consequences of non-payment
6. Indemnification Obligations: Specific indemnification provisions, including scope, limitations, and exclusions
7. Claims Procedure: Process for filing and handling claims, including notification requirements and timeframes
8. Exclusions: Specific risks, circumstances, or losses that are excluded from coverage
9. Duties and Obligations: Responsibilities of each party, including disclosure obligations and risk mitigation requirements
10. Duration and Renewal: Term of the agreement, renewal conditions, and termination provisions
11. Dispute Resolution: Procedures for resolving disputes, including applicable law and jurisdiction
12. General Provisions: Standard contractual provisions including notices, amendments, and severability
1. Subrogation Rights: Details of the insurer's right to pursue third parties, used when subrogation rights need to be specifically addressed
2. Reinsurance Provisions: Provisions relating to reinsurance arrangements, included when reinsurance is relevant to the agreement
3. Premium Adjustment: Mechanisms for adjusting premiums based on claims history or risk changes, used in long-term or variable risk agreements
4. Broker Provisions: Provisions relating to insurance brokers, included when brokers are involved in the arrangement
5. Cross-Border Provisions: Specific provisions for international coverage, included when insurance covers multiple jurisdictions
6. Group Coverage Extensions: Provisions for extending coverage to group companies or affiliates, used in corporate group arrangements
1. Schedule A - Coverage Details: Detailed breakdown of insurance coverage, limits, and sub-limits
2. Schedule B - Premium Calculation: Detailed premium calculation methodology and rates
3. Schedule C - Claims Documentation Requirements: List of required documentation and information for claims processing
4. Schedule D - Excluded Risks: Detailed list of specific exclusions and circumstances not covered
5. Schedule E - Property Schedule: List of insured properties or assets (if applicable)
6. Appendix 1 - Claims Forms: Standard forms for submitting claims
7. Appendix 2 - Risk Management Procedures: Required risk management and loss prevention procedures
8. Appendix 3 - Contact Information: List of key contacts for claims, notices, and administration
Authors
Financial Services
Manufacturing
Construction
Healthcare
Technology
Transportation
Real Estate
Energy
Retail
Professional Services
Maritime
Agriculture
Mining
Telecommunications
Legal
Risk Management
Compliance
Finance
Operations
Treasury
Insurance
Claims Processing
Underwriting
Corporate Governance
Procurement
Business Development
Risk Manager
Legal Counsel
Insurance Manager
Compliance Officer
Chief Financial Officer
General Counsel
Claims Manager
Underwriting Manager
Corporate Secretary
Operations Director
Contract Manager
Treasury Manager
Risk Analyst
Insurance Broker
Chief Risk Officer
Legal Operations Manager
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