Non Disclosure Agreement (Insurance) Template for Indonesia

This Non Disclosure Agreement (Insurance) is designed for use in the Indonesian insurance market where parties need to share sensitive insurance-related information while ensuring compliance with local regulations. The document is particularly relevant when insurance companies, brokers, or service providers need to exchange confidential information such as customer data, claims histories, underwriting methodologies, or proprietary business information. It incorporates requirements from Indonesian insurance law (Law No. 40 of 2014), OJK regulations, and data protection frameworks, making it suitable for both domestic and international insurance operations within Indonesian jurisdiction. The agreement is structured to protect both the disclosing and receiving parties while facilitating necessary business operations in the insurance sector.

1. Parties: Identification of the disclosing and receiving parties, including their legal status and registration details as per Indonesian law

2. Background: Context of the agreement, relationship between parties, and purpose of information sharing in the insurance context

3. Definitions: Detailed definitions including 'Confidential Information', 'Insurance Business Information', 'Trade Secrets', 'Customer Data', and other relevant terms

4. Scope of Confidential Information: Specific description of what constitutes confidential information in the insurance context, including customer data, claims information, underwriting procedures, and business strategies

5. Obligations of Confidentiality: Core confidentiality obligations, including handling, storage, and protection of confidential information

6. Permitted Disclosures: Circumstances under which confidential information may be disclosed, including regulatory requirements and legal obligations

7. Data Protection and Security: Specific measures required to protect confidential information, complying with Indonesian data protection regulations

8. Return or Destruction of Confidential Information: Procedures for returning or destroying confidential information upon agreement termination

9. Term and Termination: Duration of the agreement and circumstances for termination

10. Breach and Remedies: Consequences of breach and available remedies under Indonesian law

11. Governing Law and Jurisdiction: Specification of Indonesian law as governing law and jurisdiction for disputes