Commercial Contractor (Insurance) Template for India

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Key Requirements PROMPT example:

Commercial Contractor (Insurance)

"Need a Commercial Contractor (Insurance) Agreement for engaging a third-party claims processing provider in India, with specific provisions for handling sensitive medical data and integration with our existing claims management system, starting March 2025."

Document background
The Commercial Contractor (Insurance) Agreement is essential for insurance companies operating in India who engage external service providers for various insurance-related operations. This document is specifically designed to comply with Indian insurance regulations, including IRDAI guidelines and the Insurance Act, while establishing clear contractual relationships with service providers. It is particularly relevant when engaging contractors for services such as claims processing, policy administration, customer service, technology support, or insurance marketing. The agreement includes comprehensive provisions for regulatory compliance, data protection, service levels, and operational requirements specific to the Indian insurance sector. This document should be used whenever an insurance company needs to formalize a relationship with a commercial contractor who will be handling insurance-related operations or having access to policyholder information.
Suggested Sections

1. Parties: Identification of contracting parties including registered addresses and company details

2. Background: Context of the agreement, relationship between parties, and purpose of the contract

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Scope of Services: Detailed description of insurance-related services to be provided by the contractor

5. Term and Renewal: Duration of the agreement and conditions for renewal

6. Compensation and Payment Terms: Fee structure, payment schedule, and related terms

7. Regulatory Compliance: Obligations to comply with IRDAI regulations and other applicable laws

8. Representations and Warranties: Standard and insurance-specific warranties from both parties

9. Confidentiality: Protection of confidential information and trade secrets

10. Data Protection and Privacy: Obligations regarding handling of personal and sensitive data

11. Insurance and Indemnity: Insurance requirements and indemnification obligations

12. Termination: Grounds and procedure for contract termination

13. Post-Termination Obligations: Obligations surviving contract termination

14. Dispute Resolution: Process for resolving disputes including jurisdiction and governing law

15. General Provisions: Standard boilerplate clauses including notices, amendments, and assignment

Optional Sections

1. Intellectual Property Rights: Required when the contract involves development or use of proprietary software or systems

2. Training and Support: Include when contractor needs to provide training or ongoing support services

3. Performance Metrics: Add when specific KPIs or service levels need to be maintained

4. Subcontracting: Include if contractor may need to engage subcontractors

5. Business Continuity: Required for critical service providers or long-term contractors

6. Marketing and Branding: Include when contractor will represent or market insurance products

7. Audit Rights: Add for contracts requiring regular compliance or performance audits

8. Anti-Corruption Compliance: Include for high-value contracts or when dealing with government entities

Suggested Schedules

1. Schedule A - Service Level Agreement: Detailed performance metrics and service standards

2. Schedule B - Fee Schedule: Detailed breakdown of fees, commissions, and payment terms

3. Schedule C - Compliance Requirements: Specific regulatory and compliance obligations

4. Schedule D - Data Protection Requirements: Detailed data handling and protection protocols

5. Schedule E - Operating Procedures: Day-to-day operational procedures and requirements

6. Schedule F - Required Insurance Coverage: Details of insurance policies contractor must maintain

7. Appendix 1 - Contact Details: Key personnel and escalation matrix

8. Appendix 2 - Technical Requirements: IT systems, security, and technical specifications

9. Appendix 3 - Reporting Templates: Standard formats for required reports and documentation

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

Insurance

Financial Services

Healthcare Insurance

Life Insurance

General Insurance

Property Insurance

Professional Services

Insurance Technology

Insurance Consulting

Business Process Outsourcing

Relevant Teams

Legal

Compliance

Procurement

Operations

Risk Management

Vendor Management

Insurance Services

Business Development

Information Technology

Data Protection

Finance

Audit

Corporate Affairs

Relevant Roles

Legal Counsel

Compliance Officer

Procurement Manager

Insurance Operations Manager

Risk Manager

Contract Administrator

Chief Operating Officer

Insurance Services Director

Vendor Management Lead

Chief Compliance Officer

Insurance Products Head

Business Development Manager

Operations Director

Chief Legal Officer

Insurance Services Manager

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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