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Insurance Indemnification Agreement
"Need an Insurance Indemnification Agreement under Singapore law for our manufacturing company, covering equipment damage and business interruption with a coverage limit of SGD 5 million, to be effective from March 1, 2025."
1. Parties: Identification of the insurer and insured parties, including their registered addresses and company details
2. Background: Context and purpose of the indemnification agreement, including the basis for the insurance arrangement
3. Definitions: Key terms used throughout the agreement, including insurance-specific terminology
4. Scope of Indemnification: Detailed description of risks and losses covered, including limits and exclusions
5. Duration: Term of the agreement, renewal provisions, and termination conditions
6. Premium and Payment Terms: Financial obligations, payment schedule, and consequences of non-payment
7. Claims Procedure: Process for making and handling claims, including notification requirements and timeframes
8. Governing Law: Specification of Singapore law as governing law and jurisdiction clauses
1. Subrogation Rights: Rights of insurer to pursue third parties for recovery of paid claims
2. Cross-Indemnification: Mutual indemnification provisions between parties where applicable
3. Force Majeure: Provisions for extraordinary circumstances affecting the agreement
4. Dispute Resolution: Alternative dispute resolution procedures and mediation requirements
1. Schedule A - Covered Risks: Detailed list of specific risks covered under the agreement
2. Schedule B - Premium Schedule: Detailed premium calculation methodology 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 proof of insurance
Authors
Applicable Law
Business Day
Claim
Commencement Date
Confidential Information
Covered Loss
Effective Date
Exclusions
Force Majeure Event
Indemnified Party
Indemnifying Party
Insurance Period
Insured Event
Insured Risk
Liability
Loss
MAS
Material Adverse Effect
Notice
Parties
Policy
Premium
Regulatory Authority
Reinsurer
Representatives
Schedule
Singapore Dollars
Subrogation Rights
Term
Territory
Third Party
Underwriter
Premium Payment
Claims Procedure
Coverage Limits
Exclusions
Obligations of Insured
Obligations of Insurer
Representations and Warranties
Term and Termination
Notice Requirements
Subrogation Rights
Confidentiality
Force Majeure
Dispute Resolution
Governing Law
Assignment
Amendment and Modification
Severability
Entire Agreement
Premium Adjustment
Claims Cooperation
Policy Renewal
Cancellation Rights
Premium Refund
Duty of Disclosure
Documentation Requirements
Compliance with Laws
Record Keeping
Third Party Rights
Waiver
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