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Insurance Service Level Agreement
"Need an Insurance Service Level Agreement for our Singapore-based healthcare company that focuses on cyber insurance coverage and digital service delivery, with strict data protection requirements and 24/7 service availability metrics."
1. Parties: Identification of the insurer and service recipient
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement including regulatory references to Insurance Act, MAS Guidelines, and PDPA
4. Service Descriptions: Detailed outline of insurance services covered and compliance with Insurance Act requirements
5. Service Levels: Performance metrics and standards in accordance with MAS Guidelines
6. Reporting Requirements: Regular reporting obligations and formats as required by MAS Notice 124
7. Data Protection: PDPA compliance measures and data security requirements
8. Term and Termination: Duration and termination provisions including regulatory notification requirements
1. Business Continuity: Required for critical insurance services, addressing MAS Business Continuity Management Guidelines
2. Technology Requirements: IT infrastructure specifications and compliance with MAS Technology Risk Management Guidelines
3. Cross-Border Provisions: International service delivery requirements and compliance with cross-border regulations
1. Schedule 1 - Service Level Metrics: Detailed performance indicators and measurement methods
2. Schedule 2 - Pricing Schedule: Fee structure and payment terms
3. Schedule 3 - Reporting Templates: Standard formats for regular reporting as required by MAS
4. Schedule 4 - Contact Matrix: Key personnel and escalation procedures
5. Schedule 5 - Data Processing Agreement: Detailed data handling procedures and PDPA compliance requirements
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