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Insurance Producer Agreement
"I need an Insurance Producer Agreement for our company's expansion into the retail insurance market in Queensland, with a focus on home and contents insurance products, to be effective from March 2025, including specific provisions for digital distribution channels and online policy administration."
1. Parties: Identifies the insurer and the insurance producer, including their respective ABNs and licensing details
2. Background: Sets out the context of the agreement, including the producer's qualifications and the insurer's authorization to conduct insurance business
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles
4. Appointment and Scope: Details the producer's appointment, territory, and authorized insurance products
5. Licensing and Compliance: Outlines requirements for maintaining necessary licenses and compliance with regulatory obligations
6. Producer's Obligations: Specifies the producer's duties, responsibilities, and service standards
7. Insurer's Obligations: Details the insurer's responsibilities, including training, documentation, and support
8. Commission and Remuneration: Establishes commission structures, payment terms, and calculation methods
9. Premium Collection and Handling: Sets out procedures for collecting, handling, and remitting premiums
10. Records and Reporting: Specifies record-keeping requirements and reporting obligations
11. Intellectual Property: Addresses ownership and usage of trademarks, materials, and systems
12. Confidentiality and Privacy: Contains obligations regarding confidential information and privacy compliance
13. Term and Termination: Specifies agreement duration and circumstances for termination
14. Post-Termination Obligations: Outlines obligations and procedures following agreement termination
15. Dispute Resolution: Details procedures for handling disputes between parties
16. General Provisions: Contains standard boilerplate clauses including notices, assignment, and governing law
1. Marketing and Advertising: Details requirements for marketing activities and approval processes - include when producer will conduct significant marketing
2. Professional Indemnity Insurance: Specifies PI insurance requirements - include when not covered in Producer's Obligations
3. Sub-Producer Arrangements: Governs the appointment and management of sub-producers - include when sub-producers are permitted
4. Technology and Systems: Details requirements for using insurer's systems - include when specific technology platforms are provided
5. Training Requirements: Specifies detailed training obligations - include when complex products require specific training
6. Claims Handling: Outlines producer's role in claims process - include when producer has claims handling authority
7. Performance Targets: Sets specific performance metrics - include when commission structures are performance-based
8. Cluster Group Arrangements: Addresses participation in cluster groups - include when producer is part of a cluster arrangement
1. Schedule 1 - Authorized Products: Lists all insurance products the producer is authorized to sell
2. Schedule 2 - Commission Rates: Details commission rates and structures for each product type
3. Schedule 3 - Service Level Requirements: Specifies performance standards and service level expectations
4. Schedule 4 - Reporting Requirements: Details required reports, frequencies, and formats
5. Schedule 5 - Territory: Defines geographical areas where producer is authorized to operate
6. Appendix A - Compliance Procedures: Details specific compliance requirements and procedures
7. Appendix B - Document Templates: Contains standard forms and templates to be used
8. Appendix C - Systems Access and Security: Specifies IT systems access protocols and security requirements
Authors
Agreement
Applicable Laws
Authorized Insurance Products
Authorized Representative
Business Day
Claim
Commencement Date
Commissions
Confidential Information
Corporations Act
Customer
Effective Date
Electronic Platform
FSG
GST
Governing Law
Insurance Contracts Act
Insurance Documentation
Insurance Products
Intellectual Property Rights
Insured
Insurer
Jurisdiction
Loss
Material Breach
PDS
Personal Information
Policy
Premium
Producer
Professional Indemnity Insurance
Regulatory Authority
Related Body Corporate
Representative
Service Standards
Services
SOA
Sub-Producer
Term
Territory
Underwriting Guidelines
Authority
Licensing Requirements
Regulatory Compliance
Commission
Premium Handling
Confidentiality
Privacy
Intellectual Property
Indemnification
Insurance Requirements
Record Keeping
Reporting
Audit Rights
Training Requirements
Marketing
Territory Restrictions
Non-Competition
Non-Solicitation
Termination
Force Majeure
Assignment
Dispute Resolution
Governing Law
Entire Agreement
Amendment
Notices
Severability
Waiver
Relationship of Parties
Compliance with Laws
Anti-Money Laundering
Data Protection
Product Distribution
Service Standards
Claims Handling
Sub-Producer Relations
Performance Standards
Systems Access
Business Continuity
Insurance
Financial Services
Risk Management
Insurance Broking
Professional Services
Financial Technology
Insurance Distribution
Wealth Management
Legal
Compliance
Distribution
Sales
Operations
Risk Management
Product Development
Underwriting
Partnership Management
Business Development
Agency Management
Insurance Compliance Manager
Legal Counsel
Insurance Distribution Manager
Business Development Manager
Channel Partnership Manager
Risk Manager
Insurance Broker
Insurance Agent
Compliance Officer
Operations Manager
Sales Director
Chief Distribution Officer
Insurance Product Manager
Underwriting Manager
Agency Manager
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