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Liability Insurance Agreement
"I need a Liability Insurance Agreement for my manufacturing company to cover product liability and workplace accidents, with coverage limits of £5 million and operational territory across the UK and EU, starting from March 2025."
1. Parties: Identification of insurer and insured, including full legal names and addresses
2. Background: Context and purpose of the insurance agreement, including basis of contract
3. Definitions: Key terms used throughout the agreement, including insurance-specific terminology
4. Coverage: Scope of insurance coverage, limits, and conditions of liability
5. Premium and Payment Terms: Insurance premium details, payment schedule, and consequences of non-payment
6. Claims Procedure: Process for making and handling claims, including notification requirements
7. Duration and Termination: Policy period, renewal terms, and conditions for termination
8. General Terms: Standard contractual provisions including notices, amendments, and entire agreement
1. Excess/Deductible: Details of policyholder's contribution to claims, applicable when policy includes an excess requirement
2. Territory and Jurisdiction: Geographical scope of coverage and applicable law, used for international coverage
3. Subrogation Rights: Insurer's right to pursue third parties, included when recovery rights are relevant
4. Sanctions Clause: Compliance with international sanctions, required for international coverage
1. Schedule 1 - Covered Risks: Detailed list of insured risks, exclusions, and limitations
2. Schedule 2 - Premium Schedule: Detailed payment schedule, amounts, and payment methods
3. Schedule 3 - Claims Procedures: Detailed procedures for claims processing and required documentation
4. Schedule 4 - Policy Endorsements: Any modifications or additions to standard coverage terms
5. Appendix A - Policy Conditions: Standard policy conditions and requirements
Authors
Applicable Law
Broker
Business Day
Claim
Commencement Date
Confidential Information
Coverage Period
Covered Loss
Damages
Deductible
Effective Date
Endorsement
Excess
Excluded Claims
Force Majeure
Indemnity Period
Insured
Insured Event
Insurer
Jurisdiction
Limit of Liability
Loss
Material Change
Named Insured
Notice
Policy Period
Premium
Schedule
Subrogation
Territory
Third Party
Third Party Claim
Underwriting
Warranties
Premium Payment
Policy Limits
Exclusions
Claims Notification
Claims Handling
Subrogation
Cancellation
Renewal
Warranties
Representations
Duty of Disclosure
Policy Territory
Other Insurance
Notice Requirements
Premium Adjustment
Amendment and Modification
Dispute Resolution
Governing Law
Confidentiality
Assignment
Severability
Force Majeure
Entire Agreement
Third Party Rights
Cooperation
Records and Audit
Policy Period
Termination
Indemnification
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