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Contractual Liability (Insurance) Template for Ireland

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Key Requirements PROMPT example:

Contractual Liability (Insurance)

"I need a Contractual Liability Insurance document for my technology consulting firm based in Dublin, with coverage of €5 million for client contract breaches and specific provisions for intellectual property-related contractual disputes, to be effective from March 1, 2025."

Document background
This Contractual Liability Insurance document is essential for businesses operating in Ireland that seek protection against potential liabilities arising from their contractual obligations. It is particularly relevant in situations where companies enter into significant contracts and need insurance coverage for potential breaches or failures to perform. The document is structured in accordance with Irish insurance law and regulations, including the Consumer Insurance Contracts Act 2019 and Central Bank of Ireland guidelines. It details the scope of coverage, exclusions, claims procedures, and risk management requirements, while also addressing specific aspects of contractual liability unique to the Irish business environment. This type of insurance is crucial for risk management strategy and often required by business partners or clients as a prerequisite for entering into substantial contracts.
Suggested Sections

1. Parties: Identification of the insurer and the insured party, including full legal names and addresses

2. Background: Context of the insurance arrangement and the basis of the contract

3. Definitions: Clear definitions of key terms used throughout the policy document

4. Scope of Cover: Detailed description of what contractual liabilities are covered under the policy

5. Policy Period: Duration of the insurance coverage, including start and end dates

6. Limit of Liability: Maximum amount payable under the policy and any sub-limits

7. Premium: Premium amount, payment terms, and consequences of non-payment

8. General Exclusions: Specific circumstances and types of liability excluded from coverage

9. Claims Conditions: Procedures and requirements for making claims under the policy

10. General Conditions: Standard conditions applying to the policy, including duties of the insured

11. Cancellation Rights: Terms under which either party may cancel the policy

12. Governing Law and Jurisdiction: Confirmation of Irish law governance and jurisdiction

Optional Sections

1. Territorial Limits Extension: Optional section for extending coverage beyond Ireland, if required

2. Cross Liability Clause: Used when multiple parties need to be insured under the same policy

3. Retroactive Coverage: Optional section for claims arising from events before the policy period

4. Defense Costs: Specific provisions for covering legal defense costs, if offered separately

5. Specific Industry Endorsements: Additional coverage specific to particular industries or activities

6. Excess Insurance Provisions: Used when this policy sits excess of other insurance policies

Suggested Schedules

1. Schedule A - Policy Details: Specific details of coverage, including limits, deductibles, and premium

2. Schedule B - Covered Contracts: List and details of specific contracts covered under the policy

3. Schedule C - Named Insureds: List of additional named insureds if applicable

4. Appendix 1 - Claims Reporting Procedures: Detailed step-by-step guide for reporting claims

5. Appendix 2 - Risk Management Requirements: Specific risk management measures required by the insurer

6. Appendix 3 - Premium Calculation: Detailed breakdown of premium calculation and adjustments

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions



































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Relevant Industries

Construction

Professional Services

Manufacturing

Technology

Real Estate

Financial Services

Healthcare

Retail

Logistics

Consulting

Engineering

Telecommunications

Relevant Teams

Legal

Risk Management

Finance

Compliance

Operations

Procurement

Corporate Governance

Business Development

Contract Administration

Relevant Roles

Risk Manager

Chief Financial Officer

Legal Counsel

Compliance Officer

Insurance Manager

Contract Manager

Operations Director

Chief Executive Officer

Procurement Manager

Project Manager

Business Development Director

Company Secretary

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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