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Hold Harmless Agreement (Insurance) Template for New Zealand

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Key Requirements PROMPT example:

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."

Document background
The Hold Harmless Agreement (Insurance) is a critical risk management tool used in New Zealand business operations where one party seeks to protect another from specific liability exposures through a combination of contractual indemnification and insurance coverage. This document is particularly valuable in situations involving high-risk activities, complex commercial relationships, or significant potential liabilities. It ensures compliance with New Zealand legal requirements while providing a clear framework for risk transfer and insurance obligations. The agreement typically includes specific insurance requirements, claim notification procedures, and detailed indemnification provisions, making it essential for businesses seeking to manage their risk exposure effectively while maintaining compliance with New Zealand insurance and contract law.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 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

Construction

Manufacturing

Property Management

Event Management

Professional Services

Transportation and Logistics

Healthcare

Mining and Resources

Education

Retail

Insurance and Financial Services

Sports and Recreation

Relevant Teams

Legal

Risk Management

Insurance

Compliance

Operations

Finance

Procurement

Safety and Health

Property Management

Project Management

Commercial

Relevant Roles

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

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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