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Agency Agreement (Insurance)

Agency Agreement (Insurance) Template for Netherlands

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Key Requirements PROMPT example:

Agency Agreement (Insurance)

"I need an Insurance Agency Agreement for appointing an exclusive agent to sell our life and pension insurance products in the Amsterdam region, starting March 2025, with specific provisions for online sales channels and client data protection."

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Document background
The Insurance Agency Agreement (Insurance) is a crucial document used to establish and govern the legal and commercial relationship between insurance companies and their appointed agents in the Netherlands. This agreement is essential when an insurance company wishes to distribute its products through independent agents or intermediaries. It must comply with specific requirements under the Dutch Financial Supervision Act (Wft), the Dutch Civil Code, and EU regulations including the Insurance Distribution Directive (IDD) as implemented in Dutch law. The agreement covers key aspects such as regulatory compliance, commission structures, professional obligations, data protection, and client money handling. It's particularly important for ensuring clear accountability and compliance with Dutch financial regulations, while protecting both parties' interests and maintaining professional standards in insurance distribution.
Suggested Sections

1. Parties: Identification of the Insurance Company (Principal) and the Insurance Agent, including registration numbers, licenses, and registered addresses

2. Background: Context of the agreement, brief description of the parties' businesses, and purpose of the agency relationship

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Scope: Formal appointment of agent, territory, and scope of authority

5. Regulatory Compliance: Obligations regarding Wft compliance, licenses, and regulatory requirements

6. Agent's Rights and Obligations: Detailed responsibilities including sales, reporting, record-keeping, and client service obligations

7. Principal's Rights and Obligations: Insurance company's commitments, support, and obligations to the agent

8. Commission Structure: Commission rates, calculation methods, payment terms, and clawback provisions

9. Compliance and Training: Requirements for ongoing training, compliance with insurance regulations, and professional standards

10. Data Protection and Confidentiality: GDPR compliance, data handling procedures, and confidentiality obligations

11. Professional Indemnity: Insurance requirements and liability provisions

12. Term and Termination: Duration of agreement, termination provisions, and notice requirements

13. Post-Termination Obligations: Obligations after termination, including handover of clients and documentation

14. General Provisions: Standard clauses including governing law, jurisdiction, and entire agreement

Optional Sections

1. Non-Compete Clause: Restrictions on agent's activities during and after the agreement - optional but common in exclusive arrangements

2. Marketing and Branding: Rules for use of principal's branding and marketing materials - needed if agent will conduct marketing activities

3. IT Systems and Security: Requirements for using principal's IT systems and security protocols - relevant if integrated systems are used

4. Claims Handling Authority: Procedures for handling insurance claims - needed if agent has claims handling authority

5. Sub-Agents: Rules regarding appointment of sub-agents - include if sub-agents are permitted

6. Premium Collection: Procedures for collecting and handling premiums - include if agent will handle client money

7. Performance Targets: Specific sales or performance targets - include if performance-based elements exist

8. Cross-Border Activities: Rules for cross-border insurance distribution - needed for agents operating across EU borders

Suggested Schedules

1. Schedule 1 - Products and Services: Detailed list of insurance products and services the agent is authorized to sell

2. Schedule 2 - Commission Rates: Detailed commission structures, including variations by product and special arrangements

3. Schedule 3 - Territory: Detailed description of geographical territory and any exclusions

4. Schedule 4 - Reporting Requirements: Templates and specifications for required reports

5. Schedule 5 - Service Level Requirements: Detailed service standards and performance metrics

6. Appendix A - Compliance Manual: Detailed compliance procedures and requirements

7. Appendix B - Data Processing Agreement: GDPR-compliant data processing terms and procedures

8. Appendix C - Professional Indemnity Requirements: Detailed requirements for professional indemnity insurance

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions







































Clauses








































Relevant Industries

Insurance

Financial Services

Insurance Brokerage

Risk Management

Wealth Management

Corporate Services

Retail Banking

Professional Services

Relevant Teams

Legal

Compliance

Sales

Distribution

Operations

Risk Management

Business Development

Regulatory Affairs

Contract Management

Agency Management

Product Development

Commercial

Relevant Roles

Insurance Agent

Compliance Officer

Legal Counsel

Sales Director

Business Development Manager

Risk Manager

Insurance Broker

Commercial Director

Operations Manager

Agency Manager

Distribution Manager

Regulatory Affairs Manager

Contract Manager

Insurance Products Manager

Regional Sales 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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