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Insurance Hold Harmless Agreement Template for Nigeria

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Key Requirements PROMPT example:

Insurance Hold Harmless Agreement

"I need an Insurance Hold Harmless Agreement for a construction project in Lagos, Nigeria, where my company is the main contractor and we need protection against subcontractor-related risks, with specific coverage requirements for construction equipment and third-party liability to be effective from March 2025."

Document background
The Insurance Hold Harmless Agreement is a crucial risk management tool in the Nigerian business environment, designed to protect parties against potential losses while ensuring adequate insurance coverage is maintained. This document is particularly relevant when businesses engage in activities with significant risk exposure or when entering into contracts where clear liability allocation is essential. It combines the protective elements of a hold harmless agreement with specific insurance requirements, ensuring that the indemnifying party has the financial capacity to fulfill their obligations. The agreement must comply with Nigerian insurance regulations, including the Insurance Act 2003 and NAICOM guidelines, making it essential for businesses operating in high-risk sectors or engaging in complex commercial relationships. It's commonly used in construction projects, property management, service contracts, and other business arrangements where risk transfer and management are crucial considerations.
Suggested Sections

1. Parties: Identifies and defines the parties to the agreement, including the Indemnitor (party providing indemnification) and Indemnitee (protected party)

2. Background: Sets out the context and purpose of the agreement, including the relationship between the parties and the activities being covered

3. Definitions: Defines key terms used throughout the agreement, including 'Indemnified Events', 'Losses', 'Claims', and other relevant terms

4. Scope of Indemnification: Details the specific activities, risks, and circumstances covered by the hold harmless provision

5. Insurance Requirements: Specifies the types and amounts of insurance coverage required, including liability limits and policy requirements

6. Duration and Survival: Establishes the term of the agreement and which provisions survive termination

7. Notice Requirements: Procedures for notifying parties of claims and events that might trigger the indemnification

8. Claims Procedures: Process for handling claims, including cooperation requirements and defense obligations

9. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and establishes jurisdiction for disputes

10. General Provisions: Standard contractual provisions including amendments, assignments, and severability

Optional Sections

1. Additional Insured Requirements: Used when one party must be named as additional insured on the other's policies

2. Subrogation Waiver: Include when parties agree to waive rights of subrogation against each other

3. Cross-Indemnification: Used when both parties are providing reciprocal indemnification

4. Limitation of Liability: Include when parties wish to cap their potential liability exposure

5. Force Majeure: Added when parties want to address how unforeseeable events affect indemnification obligations

6. Alternative Dispute Resolution: Include when parties prefer arbitration or mediation before litigation

7. Confidentiality: Used when the agreement involves sensitive business information

Suggested Schedules

1. Schedule A - Insurance Requirements: Detailed specifications of required insurance policies, coverage limits, and terms

2. Schedule B - Excluded Events: List of specific events or circumstances excluded from the indemnification scope

3. Schedule C - Claim Notification Form: Standard form for notifying parties of claims or potential claims

4. Appendix 1 - Certificate of Insurance: Template or actual certificate showing proof of required insurance coverage

5. Appendix 2 - Contact Information: List of key contacts and their details for claim notifications and agreement administration

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

Construction

Real Estate

Manufacturing

Oil and Gas

Healthcare

Transportation and Logistics

Professional Services

Financial Services

Mining

Infrastructure Development

Hospitality

Retail

Technology Services

Relevant Teams

Legal

Risk Management

Compliance

Operations

Finance

Project Management

Facilities Management

Health and Safety

Procurement

Business Development

Contract Administration

Relevant Roles

Risk Manager

Legal Counsel

Compliance Officer

Contract Manager

Operations Director

Project Manager

Insurance Broker

Chief Financial Officer

Chief Risk Officer

Business Development Manager

Facility Manager

Construction Manager

Property Manager

Safety Officer

General Counsel

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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