The Insurance Agency Agreement (Insurance) serves as the foundational document for establishing authorized distribution relationships in New Zealand's insurance sector. It is typically used when an insurance company wishes to appoint an agent or broker to sell and distribute its insurance products. The agreement comprehensively addresses crucial aspects such as regulatory compliance, commission structures, operational procedures, and service standards, all within the context of New Zealand's legal framework. This document is essential for ensuring clear understanding between parties and compliance with key legislation including the Insurance Law Reform Act 1977, Financial Markets Conduct Act 2013, and the Insurance Intermediaries Act 1994. It protects both the insurer's and agent's interests while establishing professional standards for insurance distribution.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identifies and provides full legal details of the insurer and the insurance agent/broker
2. Background: Sets out the context of the agreement, including the insurer's business, the agent's qualifications, and the purpose of the arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Appointment and Scope: Details of the agent's appointment, territory, and authorized activities
5. Agent's Authority: Specific powers granted to the agent and limitations on authority
6. Regulatory Compliance: Obligations regarding licensing, registration, and compliance with relevant laws
7. Duties and Responsibilities: Detailed obligations of the agent including sales, reporting, and customer service requirements
8. Commission Structure: Details of commission rates, calculation methods, and payment terms
9. Professional Standards: Required qualifications, training, and conduct standards
10. Reporting and Records: Requirements for maintaining records and reporting to the insurer
11. Confidentiality: Obligations regarding confidential information and data protection
12. Intellectual Property: Usage rights and restrictions regarding the insurer's brands and materials
13. Term and Termination: Duration of agreement and circumstances for termination
14. Post-Termination Obligations: Duties and restrictions following agreement termination
15. Dispute Resolution: Process for handling disputes between parties
16. General Provisions: Standard clauses including notices, amendments, and governing law
1. Sub-Agents: Include when the agent is permitted to appoint sub-agents
2. International Operations: Include for agents operating across multiple jurisdictions
3. Premium Handling: Include when agent collects premiums on behalf of insurer
4. Claims Handling Authority: Include when agent is authorized to handle claims
5. Marketing and Advertising: Include when agent has significant marketing responsibilities
6. Technology Requirements: Include when specific software or systems are required
7. Training Programs: Include when insurer provides specific training programs
8. Performance Targets: Include when agreement includes specific performance metrics
9. Non-Compete Provisions: Include when restrictive covenants are required
1. Schedule 1: Commission Rates: Detailed breakdown of commission structures for different products
2. Schedule 2: Authorized Products: List of insurance products the agent is authorized to sell
3. Schedule 3: Territory: Detailed description of authorized geographic territory
4. Schedule 4: Reporting Templates: Standard forms for regular reporting requirements
5. Schedule 5: Service Level Requirements: Specific performance and service standards
6. Appendix A: Compliance Procedures: Detailed compliance requirements and procedures
7. Appendix B: Brand Guidelines: Rules for using insurer's branding and marketing materials
8. Appendix C: Technology Specifications: Technical requirements for systems integration
9. Appendix D: Training Requirements: Details of mandatory training and certifications
Find the exact document you need
Tenancy Agreement (Insurance)
A New Zealand-compliant residential tenancy agreement incorporating comprehensive insurance provisions and requirements for both landlord and tenant.
Download
Party Wall Agreement (Insurance)
A New Zealand-compliant agreement establishing insurance arrangements and responsibilities between property owners sharing a party wall, aligned with local property law and building regulations.
Download
Life Insurance Indemnity Contract
A New Zealand-governed contract establishing terms for life insurance coverage, including payment obligations, beneficiary rights, and claims procedures.
Download
Hold Harmless Agreement (Insurance)
A New Zealand-governed agreement establishing insurance-backed indemnification arrangements between parties, defining risk allocation and insurance requirements.
Download
Buy And Sell Agreement Life (Insurance)
A New Zealand-governed agreement establishing terms for business interest transfers upon death or other triggers, backed by life insurance policies.
Download
Agency Agreement (Insurance)
A New Zealand-governed agreement establishing the legal relationship between an insurer and its appointed agent/broker, including authorization, compensation, and compliance terms.
Download
Binding Authority Agreement
A New Zealand law-governed agreement delegating insurance underwriting authority from an insurer to a coverholder, establishing operational and compliance parameters.
Download
Insurance Confidentiality Agreement
A New Zealand-compliant confidentiality agreement specifically designed for insurance industry information protection and sharing.
Download
Home Buy Sell Agreement
A legally binding agreement for residential property sales in New Zealand, outlining terms and conditions for property transfer between vendor and purchaser.
Download
Key Person Agreement
A New Zealand-compliant employment agreement designed to retain and protect the interests of both the company and its key employees, incorporating specific provisions under NZ employment law.
Download
Subrogation Agreement
A New Zealand law-governed agreement transferring recovery rights from an insured party to their insurer following an insurance claim payment.
Download
Insurance Indemnity Contract
A New Zealand-governed insurance contract establishing indemnity coverage terms, obligations, and claims procedures between insurer and insured parties.
Download
Risk Transfer Agreement
A New Zealand law-governed agreement for transferring specified risks between parties, including risk scope, valuation, and claims procedures.
Download
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)
.png)