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1. Parties: Identifies and defines the fronting insurer and the reinsurer/principal party
2. Background: Explains the context of the agreement, including the business purpose and regulatory framework
3. Definitions: Defines key terms used throughout the agreement, including technical insurance and regulatory terminology
4. Scope of Agreement: Outlines the classes of insurance business covered and territorial limits
5. Duties of the Fronting Insurer: Details the obligations of the fronting insurer, including policy issuance and claims handling
6. Duties of the Reinsurer: Specifies the reinsurer's obligations, including risk assumption and payment terms
7. Premium Handling: Describes the process for premium collection, holding, and transfer
8. Claims Management: Details the claims handling process, authority levels, and settlement procedures
9. Regulatory Compliance: Addresses compliance requirements with Hong Kong insurance regulations
10. Representations and Warranties: Contains standard and specific warranties from both parties
11. Indemnification: Outlines mutual indemnification obligations and limitations
12. Term and Termination: Specifies duration, renewal terms, and termination conditions
13. Confidentiality: Addresses the handling of confidential information and data protection
14. Dispute Resolution: Specifies dispute resolution mechanisms under Hong Kong law
15. General Provisions: Contains standard boilerplate clauses including notices, amendments, and governing law
1. Collateral Requirements: Required when the agreement includes specific security or collateral arrangements
2. Cut-Through Provisions: Optional clause allowing direct access by insureds to the reinsurer in specific circumstances
3. Broker Involvement: Required when insurance brokers are involved in the arrangement
4. Profit Sharing: Optional section for agreements including profit-sharing arrangements
5. Tax Provisions: Required for cross-border arrangements or specific tax considerations
6. Business Continuity: Optional section detailing business continuity and disaster recovery requirements
7. Anti-Money Laundering Compliance: Required for high-risk or specific regulatory requirements
8. Data Protection and Privacy: Required when significant personal data processing is involved
1. Schedule A - Classes of Business: Detailed list of insurance classes covered under the agreement
2. Schedule B - Commission Structure: Details of commission rates and payment terms
3. Schedule C - Claims Handling Procedures: Detailed procedures and authority levels for claims management
4. Schedule D - Reporting Requirements: Specifications for regular reporting and documentation
5. Schedule E - Service Level Agreement: Detailed service standards and performance metrics
6. Appendix 1 - Policy Wording Ƶ: Standard policy wordings to be used by the fronting insurer
7. Appendix 2 - Compliance Procedures: Detailed compliance procedures and checklists
8. Appendix 3 - Contact Details: Key contact information for both parties
9. Appendix 4 - Premium Bordereau Template: Standard format for premium reporting and reconciliation
Insurance
Reinsurance
Financial Services
Risk Management
Commercial Insurance
Marine Insurance
Property Insurance
Casualty Insurance
Professional Services
Banking
Legal
Compliance
Risk Management
Underwriting
Claims
Operations
Finance
Regulatory Affairs
Business Development
Policy Administration
Reinsurance
Chief Risk Officer
Head of Underwriting
Legal Counsel
Compliance Officer
Reinsurance Manager
Claims Manager
Insurance Operations Director
Chief Financial Officer
Insurance Program Manager
Policy Administration Manager
Regulatory Affairs Director
Business Development Manager
Treaty Manager
Account Executive
Risk Manager
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