Hold Harmless Agreement (Insurance) Template for Hong Kong

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Key Requirements PROMPT example:

Hold Harmless Agreement (Insurance)

"I need a Hold Harmless Agreement (Insurance) for our construction company operating in Hong Kong, where we'll be requiring our subcontractors to indemnify us against any site-related incidents and maintain comprehensive insurance coverage of at least HKD 10 million for the upcoming Kowloon development project starting March 2025."

Document background
The Hold Harmless Agreement (Insurance) is essential for businesses operating in Hong Kong seeking to manage and transfer risks effectively through contractual means. This document is typically used when one party wishes to be protected from liability arising from specific activities or relationships, with the protection being supported by mandatory insurance coverage. It is particularly relevant in commercial relationships where significant risks need to be allocated and managed, such as construction projects, property management, or service contracts. The agreement must comply with Hong Kong's Insurance Ordinance and contract law requirements, making it suitable for both domestic and international business transactions within Hong Kong's jurisdiction. The document includes comprehensive details about insurance requirements, indemnification scope, claims procedures, and risk allocation mechanisms, providing a robust framework for risk management and liability protection.
Suggested Sections

1. Parties: Identifies and provides full details of all parties to the agreement, including the indemnitor and indemnitee

2. Background: Sets out the context and purpose of the agreement, including the relationship between the parties and the activities being covered

3. Definitions: Defines key terms used throughout the agreement for clarity and precision

4. Scope of Indemnification: Clearly outlines the specific activities, risks, and circumstances covered by the hold harmless provision

5. Insurance Requirements: Details the specific insurance coverage requirements, including types of insurance, minimum coverage amounts, and duration

6. Indemnitor's Obligations: Specifies the responsibilities and duties of the party providing the indemnification

7. Claims Procedure: Outlines the process for making and handling claims under the agreement

8. Duration and Termination: Specifies the term of the agreement and conditions for termination

9. Notices: Sets out how and where formal notices under the agreement should be delivered

10. Governing Law and Jurisdiction: Confirms Hong Kong law as governing law and specifies jurisdiction for dispute resolution

11. General Provisions: Standard boilerplate clauses including severability, entire agreement, and amendments

12. Execution: Signature blocks and execution formalities

Optional Sections

1. Exclusions and Limitations: Specific exclusions from the indemnification scope, used when certain risks or activities need to be explicitly carved out

2. Additional Insured Requirements: Used when specific parties need to be named as additional insureds on insurance policies

3. Cross-Indemnification: Included when both parties are providing reciprocal indemnification

4. Subrogation Waiver: Used when parties agree to waive their insurers' subrogation rights

5. Alternative Dispute Resolution: Including specific mediation or arbitration procedures when parties prefer alternatives to court litigation

6. Confidentiality: Added when the agreement involves sensitive information that needs protection

7. Force Majeure: Included when parties want to address how unforeseen circumstances affect indemnification obligations

Suggested Schedules

1. Schedule 1 - Insurance Coverage Requirements: Detailed specifications of required insurance policies, coverage limits, and terms

2. Schedule 2 - Indemnified Activities: Comprehensive list of specific activities covered by the indemnification

3. Schedule 3 - Claims Processing Procedures: Detailed procedures for handling and processing claims

4. Schedule 4 - Contact Information: List of key contacts and their details for various aspects of the agreement

5. Appendix A - Certificate of Insurance: Template or actual certificate of insurance showing required coverage

6. Appendix B - Risk Assessment: Documentation of risk assessment related to indemnified activities

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Construction

Real Estate

Financial Services

Insurance

Manufacturing

Professional Services

Healthcare

Transportation

Retail

Technology

Energy

Infrastructure

Relevant Teams

Legal

Risk Management

Compliance

Operations

Finance

Insurance

Procurement

Facilities Management

Project Management

Corporate Affairs

Health and Safety

Relevant Roles

Risk Manager

Legal Counsel

Insurance Manager

Compliance Officer

Contract Manager

Project Manager

Operations Director

Chief Financial Officer

General Counsel

Business Development Manager

Property Manager

Facility Manager

Construction Manager

Procurement Manager

Safety Officer

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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