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Hold Harmless Agreement (Insurance)
"I need a Hold Harmless Agreement (Insurance) for my construction company that will be working on a major commercial building project starting March 2025, requiring comprehensive coverage for all subcontractors and protection against workplace accidents and property damage."
1. Parties: Identifies and defines all parties to the agreement, including the indemnitor (party providing indemnification) and indemnitee (protected party)
2. Background: Explains the context and purpose of the agreement, including the relationship between parties and the need for indemnification
3. Definitions: Defines key terms used throughout the agreement, including specific insurance-related terminology
4. Scope of Indemnification: Details the specific risks, activities, and circumstances covered by the hold harmless provision
5. Insurance Requirements: Specifies required insurance coverage, minimum limits, and types of insurance to be maintained
6. Duration: Specifies the term of the agreement and any survival provisions
7. Notice Requirements: Details how and when notices of claims or potential claims must be provided
8. Claims Procedure: Outlines the process for handling claims and the cooperation required between parties
9. General Provisions: Standard contract clauses including governing law, jurisdiction, and amendment procedures
1. Multiple Party Provisions: Additional provisions for agreements involving more than two parties, defining relationships and obligations between multiple indemnitors or indemnitees
2. Specific Exclusions: Detailed list of exclusions from the indemnification scope, used when certain risks need to be explicitly excluded
3. Cross-Indemnification: Provisions for mutual indemnification between parties, used when both parties are providing some form of indemnification
4. Insurance Broker Requirements: Specific provisions regarding the role and requirements of insurance brokers, if applicable
5. Dispute Resolution: Detailed alternative dispute resolution procedures, used when parties want to specify mediation or arbitration processes
6. Subrogation Waiver: Provisions waiving insurance subrogation rights, used when parties agree not to seek recovery from each other's insurers
7. Financial Security: Additional requirements for financial security or bonds, used in high-value or high-risk situations
1. Schedule 1: Insurance Requirements: Detailed specifications of required insurance policies, coverage limits, and terms
2. Schedule 2: Indemnified Activities: Comprehensive list of activities and operations covered by the indemnification
3. Schedule 3: Claim Form Template: Standard form for submitting claims under the agreement
4. Schedule 4: Contact Details: List of key contacts and their details for both parties, including emergency contacts
5. Appendix A: Certificate of Insurance: Template or example of required insurance certificates
6. Appendix B: Risk Assessment: Documentation of risk assessment related to indemnified activities
Authors
Construction
Manufacturing
Property Management
Event Management
Professional Services
Transportation and Logistics
Healthcare
Mining and Resources
Education
Retail
Insurance and Financial Services
Sports and Recreation
Legal
Risk Management
Insurance
Compliance
Operations
Finance
Procurement
Safety and Health
Property Management
Project Management
Commercial
Risk Manager
Legal Counsel
Insurance Manager
Compliance Officer
Contract Manager
Operations Director
Chief Financial Officer
Insurance Broker
Claims Manager
Property Manager
Project Manager
Safety Manager
General Counsel
Business Development Manager
Procurement Manager
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