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Insurance And Indemnification Agreement
"Need an Insurance and Indemnification Agreement for our Singapore-based manufacturing facility, covering property damage and business interruption with a policy limit of $5M, to be effective from March 1, 2025, with special attention to equipment breakdown coverage."
1. Parties: Identification and details of the insurer and insured parties
2. Background: Context and purpose of the insurance and indemnification arrangement
3. Definitions: Key terms used throughout the agreement including insurance-specific terminology
4. Scope of Coverage: Detailed description of what is covered under the insurance, including limits and exclusions
5. Premium and Payment Terms: Financial obligations, payment schedule, and consequences of non-payment
6. Claims Procedure: Process for making and handling claims, including notification requirements and timeframes
7. Duration and Termination: Term of coverage, renewal provisions, and conditions for termination
8. Governing Law: Specification of Singapore law as governing law and jurisdiction provisions
1. Subrogation Rights: Rights of insurer to pursue third parties for recovery of paid claims
2. Reinsurance Provisions: Details of reinsurance arrangements and their impact on the primary insurance
3. Broker Provisions: Role and responsibilities of insurance brokers in the arrangement
4. Data Protection Compliance: Provisions ensuring compliance with Singapore's Personal Data Protection Act
1. Schedule A - Covered Risks: Detailed list of specific risks covered under the policy
2. Schedule B - Premium Schedule: Detailed breakdown of premium calculations and payment schedule
3. Schedule C - Claims Forms: Standard forms and procedures for submitting claims
4. Schedule D - Certificate of Insurance: Official documentation of coverage and policy details
5. Schedule E - Exclusions: Detailed list of exclusions and limitations of coverage
Authors
Claim
Commencement Date
Covered Loss
Deductible
Effective Date
Excluded Events
Force Majeure Event
Indemnified Party
Indemnifying Party
Insurance Period
Insured Event
Insurer
Liability
Loss
Material Adverse Change
Notice
Policy Limit
Premium
Reinsurer
Related Party
Schedule
Service Provider
Subrogation Rights
Term
Territory
Third Party
Underwriter
Governing Law
Policy Period
Coverage Territory
Insurance Certificate
Named Insured
Additional Insured
Beneficiary
Coverage Limit
Endorsement
Excess Coverage
Policy Holder
Risk
Premium Payment
Claims Procedure
Policy Exclusions
Indemnification
Subrogation
Representations and Warranties
Notice Requirements
Termination
Cancellation
Force Majeure
Confidentiality
Duty of Disclosure
Premium Adjustment
Policy Renewal
Dispute Resolution
Governing Law
Assignment
Amendments
Waiver
Severability
Entire Agreement
Cooperation
Record Keeping
Compliance with Laws
Territory Limitations
Premium Refund
Claims Investigation
Reinsurance
Notice of Material Change
Policy Interpretation
Third Party Rights
Data Protection
Premium Default
Broker Provisions
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