tiktok³ÉÈ˰æ

Insurance Indemnification Agreement Template for India

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Insurance Indemnification Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Insurance Indemnification Agreement

"I need an Insurance Indemnification Agreement for my tech manufacturing company in Bangalore, covering product liability and cyber risks, with a specific focus on international exports to Southeast Asian markets."

Document background
The Insurance Indemnification Agreement is a critical document used when establishing formal insurance coverage relationships between parties in India. It is particularly relevant when businesses or individuals seek specific risk coverage or when insurance companies structure their risk-sharing arrangements. This document type must strictly comply with Indian insurance regulations, particularly the Insurance Act, 1938, and IRDAI guidelines. The agreement typically includes comprehensive details about coverage scope, claim procedures, premium structures, and regulatory compliance requirements. It's essential for risk management strategies and is commonly used in various business contexts, from corporate insurance programs to specialized risk coverage arrangements. The document must be carefully drafted to ensure enforceability under Indian law while meeting the specific risk management needs of the parties involved.
Suggested Sections

1. Parties: Identification of the Indemnifier (typically the insurance company) and the Indemnified Party, including full legal names, addresses, and registration details

2. Background: Context of the agreement, including the relationship between parties and the purpose of the indemnification

3. Definitions: Detailed definitions of key terms used throughout the agreement, including 'Loss', 'Claim', 'Indemnified Event', etc.

4. Scope of Indemnification: Detailed description of what losses, damages, or liabilities are covered under the agreement

5. Exclusions: Specific circumstances, events, or types of losses that are explicitly excluded from the indemnification coverage

6. Claims Procedure: Process for making claims, including notification requirements, timing, and documentation

7. Duration and Termination: Term of the agreement and circumstances under which it can be terminated

8. Premium and Payment Terms: Details of insurance premium, payment schedule, and consequences of non-payment

9. Obligations of Parties: Specific duties and responsibilities of both the indemnifier and indemnified party

10. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law provisions

Optional Sections

1. Subrogation Rights: Details of the insurer's right to pursue third parties after settling a claim. Include when there's potential for third-party recovery

2. Reinsurance Provisions: Details about reinsurance arrangements. Include when the primary insurer is utilizing reinsurance

3. Cross-Indemnification: Mutual indemnification provisions. Include when both parties are providing some form of indemnification

4. Currency and Exchange Rates: Provisions for handling multiple currencies. Include for international agreements

5. Compliance with Regulations: Specific regulatory compliance requirements. Include when dealing with regulated industries or special risk categories

Suggested Schedules

1. Schedule A - Coverage Details: Detailed breakdown of specific risks, events, and circumstances covered under the indemnification

2. Schedule B - Premium Schedule: Detailed premium calculation methodology and payment schedule

3. Schedule C - Claims Documentation Requirements: List of required documents and evidence needed for claims processing

4. Appendix 1 - Claim Form Template: Standard form for submitting claims under the agreement

5. Appendix 2 - Risk Assessment Report: Initial risk assessment and evaluation forming the basis of the agreement

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

































Clauses



























Relevant Industries

Insurance

Financial Services

Manufacturing

Healthcare

Construction

Technology

Real Estate

Transportation

Energy

Professional Services

Relevant Teams

Legal

Risk Management

Compliance

Finance

Insurance Operations

Claims Processing

Corporate Governance

Regulatory Affairs

Relevant Roles

Risk Manager

Insurance Underwriter

Legal Counsel

Compliance Officer

Chief Financial Officer

Insurance Broker

Claims Manager

Corporate Secretary

Risk Analyst

Insurance Operations Manager

Legal Director

Regulatory Affairs 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

Find the exact document you need

Indemnity Agreement (Insurance)

An Indian law-governed insurance contract establishing terms for indemnification of specified losses between insurer and insured, compliant with Insurance Act 1938 and IRDA regulations.

find out more

Contractual Obligation (Insurance)

Standard insurance contract template compliant with Indian law and IRDAI regulations, establishing insurer-policyholder obligations and coverage terms.

find out more

Contractual Liability (Insurance)

An Indian law-governed insurance document providing coverage for liabilities arising from contractual obligations and agreements, compliant with IRDAI regulations.

find out more

Contract Of Marine (Insurance)

An Indian law-governed insurance contract protecting maritime assets and interests, regulated under the Marine Insurance Act 1963 and related legislation.

find out more

Commercial Contractor (Insurance)

An Indian law-governed agreement for contractors providing services in the insurance sector, incorporating IRDAI regulations and compliance requirements.

find out more

Agreement To Provide (Insurance)

An Indian law-governed insurance agreement establishing terms of coverage between insurer and insured, compliant with IRDAI regulations.

find out more

Aleatory Contract Life (Insurance)

An Indian law-governed life insurance contract establishing terms of coverage, benefits, and obligations between insurer and policyholder.

find out more

Service Contract Liability (Insurance)

An Indian law-governed insurance agreement protecting service providers against liability claims arising from their professional services and operations.

find out more

Hold Harmless Agreement (Insurance)

An Indian law-governed agreement combining hold harmless provisions with insurance requirements to protect parties against specified risks and liabilities.

find out more

Agency Agreement (Insurance)

An Indian law-governed agreement establishing the relationship between an insurance company and its agent, compliant with IRDAI regulations and the Insurance Act.

find out more

Terms Of Business Agreement Insurance Broker

An Indian law-governed agreement establishing the terms of business relationship between an insurance broker and their clients, compliant with IRDAI regulations.

find out more

Binding Authority Agreement

An Indian law-governed agreement delegating insurance underwriting authority from an insurer to a coverholder, subject to IRDAI regulations.

find out more

Public Adjuster Contract

An Indian law-governed agreement between a public adjuster and client for professional insurance claim adjustment services, compliant with IRDAI regulations.

find out more

Title Insurance Indemnity Agreement

An Indian law-governed insurance agreement providing protection against property title defects and related losses through specified indemnification terms.

find out more

Endowment Contract

An Indian law-governed insurance contract combining life coverage and investment benefits, establishing terms between insurer and policyholder for death and maturity benefits.

find out more

Workers Compensation Hold Harmless Agreement

An Indian law-governed agreement establishing indemnification arrangements between parties for workers' compensation claims and related liabilities.

find out more

Temporary Insurance Agreement

An Indian law-governed agreement establishing temporary insurance coverage between an insurer and insured party, detailing coverage terms, duration, and obligations.

find out more

Deductible Indemnity Agreement

An Indian law-governed agreement establishing indemnification obligations with a deductible threshold, defining terms for risk allocation and claims processing between parties.

find out more

Subcontractor Insurance Agreement

An Indian law-governed agreement specifying insurance requirements and obligations between contractors and subcontractors, including coverage requirements and compliance procedures.

find out more

Insurance Letter Of Agreement

An Indian law-governed agreement establishing insurance coverage terms between insurer and insured, compliant with IRDAI regulations.

find out more

Key Person Agreement

An Indian law-governed agreement establishing terms and conditions for key personnel employment, including duties, compensation, and protective covenants.

find out more

Health Insurance Agreement

An Indian law-governed agreement establishing health insurance coverage terms between insurer and policyholder, compliant with IRDAI regulations.

find out more

Insurance Indemnity Contract

An Indian law-governed Insurance Indemnity Contract establishing risk transfer and coverage terms between insurer and insured, compliant with IRDA regulations.

find out more

Subrogation Contract

An Indian law-governed agreement transferring recovery rights from an insured to their insurer following claim settlement, enabling the insurer to pursue recovery from responsible third parties.

find out more

Insurance Indemnification Agreement

An Indian law-governed Insurance Indemnification Agreement establishing terms for insurance coverage and claims procedures under IRDAI regulations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.