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The Buy And Sell Agreement (Insurance) is a crucial legal document used in the Irish insurance market to establish and govern the relationship between insurance providers and policyholders. This agreement is essential when businesses or individuals seek to formalize insurance coverage arrangements, ensuring compliance with Irish insurance regulations and EU directives. The document includes comprehensive details about insurance coverage, premium calculations, claims procedures, and liability limitations. It is particularly relevant in situations requiring specific insurance arrangements, risk management strategies, and regulatory compliance. The agreement must align with Irish legal requirements, including the Insurance Act 1936, Consumer Insurance Contracts Act 2019, and other relevant legislation, while providing clear terms for both parties' obligations and rights.

1. Parties: Identification of all contracting parties including the insurer, policyholder, and any other relevant parties

2. Background: Context of the agreement, including the purpose of the insurance coverage and basic premises

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

4. Scope of Coverage: Detailed description of what is covered under the insurance policy

5. Premium and Payment Terms: Details of premium amounts, payment schedules, and payment methods

6. Duration and Renewal: Term of the agreement, renewal conditions, and termination provisions

7. Claims Procedure: Process for making claims, required documentation, and timeframes

8. Exclusions: Specific circumstances or events not covered by the insurance

9. Obligations of the Insured: Duties and responsibilities of the policyholder

10. Obligations of the Insurer: Duties and responsibilities of the insurance provider

11. Representations and Warranties: Statements of fact and promises made by both parties

12. Termination Rights: Circumstances under which either party may terminate the agreement

13. Confidentiality: Provisions regarding the handling of confidential information

14. Data Protection: GDPR compliance and data handling procedures

15. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction details

16. Notices: Methods and addresses for formal communications between parties

17. General Provisions: Miscellaneous legal provisions including severability, entire agreement, and amendments