Insurance Indemnity Contract Template for Netherlands

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Key Requirements PROMPT example:

Insurance Indemnity Contract

"I need an Insurance Indemnity Contract under Dutch law for my manufacturing company to cover professional liability and property damage, with coverage starting March 1, 2025, including specific provisions for machinery breakdown and business interruption with a €5 million liability cap."

Document background
The Insurance Indemnity Contract serves as a crucial risk management tool in the Dutch legal framework, providing organizations and individuals with protection against specified losses or liabilities. This document type is essential when parties seek to transfer risk through insurance coverage, particularly in complex commercial arrangements or high-value transactions. The contract must comply with Dutch insurance law requirements, including the detailed provisions of the Dutch Civil Code (Burgerlijk Wetboek) and the Financial Supervision Act. It typically includes comprehensive details about coverage scope, limitations, exclusions, premium calculations, and claims procedures, while ensuring alignment with both Dutch national regulations and applicable EU insurance directives. The document is particularly relevant when significant risk transfer is required and detailed indemnification terms need to be established within the Dutch jurisdiction.
Suggested Sections

1. Parties: Identification of the indemnifier (insurer) and the indemnitee (insured), including full legal names and registered addresses

2. Background: Context of the insurance arrangement and the purpose of the indemnity

3. Definitions: Defined terms used throughout the agreement, including specific insurance and indemnity-related terminology

4. Scope of Indemnity: Detailed description of what risks, losses, or liabilities are covered under the indemnity

5. Coverage Limits: Maximum amounts payable under the indemnity and any sub-limits for specific types of losses

6. Premium and Payment Terms: Details of premium amounts, payment schedule, and consequences of non-payment

7. Duration and Renewal: Term of the agreement, renewal provisions, and conditions for extension

8. Claims Procedure: Process for making claims, including notification requirements, timeframes, and documentation

9. Exclusions: Specific risks, circumstances, or losses that are not covered by the indemnity

10. Obligations of the Insured: Duties of the insured party, including disclosure obligations and risk mitigation requirements

11. Termination: Circumstances under which the agreement can be terminated by either party

12. Governing Law and Jurisdiction: Confirmation of Dutch law as governing law and jurisdiction for disputes

13. Notices: Process and requirements for formal communications between parties

14. Execution: Signature blocks and execution requirements

Optional Sections

1. Subrogation Rights: Details of the insurer's rights to pursue third parties, used when recovery from third parties might be relevant

2. Reinstatement: Provisions for reinstating coverage after a claim, used for longer-term or renewable policies

3. Dispute Resolution: Specific procedures for handling disputes, used when parties want to specify mediation or arbitration processes

4. Compliance with Sanctions: Provisions regarding compliance with international sanctions, used when international elements are involved

5. Insurance Premium Tax: Specific provisions about tax treatment, used when tax implications need clarification

6. Currency Provisions: Specifications about currency of payments, used in international contracts

7. Co-Insurance Arrangements: Details of multiple insurers' involvement, used when risk is shared among multiple insurers

Suggested Schedules

1. Schedule of Covered Risks: Detailed listing of specific risks, circumstances, or events covered by the indemnity

2. Schedule of Premium Calculations: Detailed breakdown of premium calculations and payment schedules

3. Schedule of Limits and Sub-limits: Comprehensive table of coverage limits for different types of losses

4. Schedule of Claims Documentation: List of required documents and evidence for making claims

5. Schedule of Insured Locations/Assets: Specific details of locations or assets covered under the indemnity

6. Appendix - Claims Forms: Standard forms to be used when making claims

7. Appendix - Risk Management Requirements: Detailed requirements for risk management and loss prevention

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

Financial Services

Manufacturing

Construction

Healthcare

Technology

Real Estate

Transportation

Energy

Retail

Professional Services

Agriculture

Mining

Maritime

Aviation

Relevant Teams

Legal

Risk Management

Finance

Compliance

Insurance

Treasury

Operations

Corporate Governance

Claims Management

Underwriting

Contract Administration

Relevant Roles

Risk Manager

Insurance Manager

Chief Financial Officer

Legal Counsel

Compliance Officer

Claims Manager

Underwriting Manager

Insurance Broker

Treasury Manager

Operations Director

Contract Manager

General Counsel

Corporate Secretary

Finance Director

Risk Assessment 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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