All Countries
Insurance
Contractual Agreement (Insurance)

Contractual Agreement (Insurance) Template for Philippines

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Contractual Agreement (Insurance)

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Contractual Agreement (Insurance)

"I need a Contractual Agreement (Insurance) for a commercial property insurance policy that covers multiple retail locations in Manila, with specific provisions for natural disaster coverage and business interruption insurance, to be effective from March 1, 2025."

Celebrated by
Collaborations with
Investors
Document background
This Contractual Agreement (Insurance) is designed for use in the Philippine insurance market, providing a legally compliant framework for insurance coverage arrangements. The document is essential for establishing binding insurance relationships between insurers and policyholders, whether for individual, commercial, or specialized insurance needs. It incorporates requirements from the Insurance Code of the Philippines, Civil Code, Consumer Act, and other relevant legislation, ensuring comprehensive coverage of all necessary legal and regulatory elements. The agreement is structured to accommodate various types of insurance products while maintaining specific requirements for the Philippine jurisdiction, including mandatory provisions for consumer protection, data privacy, and regulatory compliance. This template serves as a foundation for creating customized insurance contracts that meet both parties' needs while adhering to Philippine insurance regulations and market practices.
Suggested Sections

1. Parties: Identification of the insurance company and the policyholder/insured

2. Background: Context of the insurance agreement and purpose of coverage

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

4. Scope of Coverage: Detailed description of what risks and events are covered under the insurance

5. Premium Payment Terms: Premium amount, payment schedule, and payment methods

6. Policy Period: Duration of coverage, effective date, and renewal terms

7. Claims Procedure: Process for filing claims, required documentation, and timeframes

8. Exclusions: Specific situations, events, or conditions not covered by the insurance

9. Obligations of the Insured: Policyholder's responsibilities and duties under the agreement

10. Termination and Cancellation: Conditions and procedures for ending the insurance coverage

11. Governing Law and Jurisdiction: Specification of Philippine law application and dispute resolution

12. Data Privacy and Confidentiality: Terms regarding handling of personal information and confidential data

Optional Sections

1. Beneficiary Designation: For life insurance policies - details of beneficiaries and succession

2. Reinstatement Provisions: Terms for reinstating lapsed policies - typically for long-term insurance

3. Grace Period: Additional time allowed for premium payment - common in life and health insurance

4. Reinsurance Arrangements: For large commercial policies - details of reinsurance coverage

5. Co-insurance Clauses: When multiple insurers share the risk

6. Warranty Clauses: Specific to property insurance - conditions for maintaining coverage

7. Subrogation Rights: For property and liability insurance - insurer's right to pursue third parties

Suggested Schedules

1. Schedule of Benefits: Detailed breakdown of coverage amounts and specific benefits

2. Premium Schedule: Detailed premium calculations and payment structures

3. Property Schedule: For property insurance - list of covered properties and their values

4. Claims Documentation Requirements: List of required documents for different types of claims

5. Policy Endorsements: Additional coverage or modifications to standard policy terms

6. Exclusions List: Detailed list of all excluded events, conditions, and circumstances

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Policy
Insurer
Insured
Policyholder
Premium
Coverage
Policy Period
Effective Date
Expiration Date
Sum Insured
Claim
Loss
Beneficiary
Insurance Certificate
Exclusions
Endorsement
Grace Period
Renewal
Cancellation
Force Majeure
Material Facts
Pre-existing Condition
Policy Schedule
Premium Due Date
Waiting Period
Deductible
Limit of Liability
Territory
Insurance Interest
Underwriting
Risk
Policy Year
Coverage Period
Insured Event
Notice of Claim
Proof of Loss
Settlement
Subrogation
Co-insurance
Reinstatement
Lapse
Premium Payment Terms
Applicable Law
Confidential Information
Personal Data
Relevant Industries

Insurance

Financial Services

Healthcare

Real Estate

Manufacturing

Transportation

Construction

Retail

Professional Services

Agriculture

Relevant Teams

Legal

Compliance

Risk Management

Underwriting

Claims Processing

Business Development

Operations

Customer Service

Policy Administration

Regulatory Affairs

Relevant Roles

Insurance Underwriter

Legal Counsel

Compliance Officer

Risk Manager

Insurance Claims Manager

Insurance Broker

Insurance Agent

Contract Administrator

Policy Administrator

Chief Risk Officer

Insurance Operations Manager

Regulatory Affairs Specialist

Business Development Manager

Account Executive

Chief Legal Officer

Industries
Insurance Code of the Philippines (Republic Act No. 10607): The primary legislation governing insurance contracts and operations in the Philippines, covering contract requirements, rights and obligations of parties, and regulatory framework
Civil Code of the Philippines (Republic Act No. 386): Provides general provisions on contracts, obligations, and commercial transactions that apply to insurance agreements
Consumer Act of the Philippines (Republic Act No. 7394): Protects consumer rights and interests in insurance contracts, including disclosure requirements and unfair practices
Anti-Money Laundering Act (Republic Act No. 9160): Requires insurance companies to implement measures preventing money laundering and ensuring proper customer identification
Data Privacy Act of 2012 (Republic Act No. 10173): Governs the collection, processing, and protection of personal information in insurance contracts
Insurance Commission Circulars and Regulations: Administrative issuances that provide specific guidelines and requirements for insurance contracts and operations
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

Find the exact document you need

Contractual Agreement (Insurance)

A Philippine law-governed insurance agreement establishing coverage terms, premiums, and obligations between insurer and policyholder.

find out more

Agreement Of Loss (Insurance)

A Philippine law-governed agreement documenting the final settlement of an insurance claim between insurer and insured, including loss details and settlement terms.

find out more

Agreement Of (Insurance)

A Philippine law-governed insurance agreement establishing coverage terms between insurer and policyholder under the Insurance Code of the Philippines.

find out more

Participating Provider Agreement

A Philippine-law governed agreement establishing terms for healthcare providers to deliver services within a healthcare network or insurance system.

find out more

Insurance Book Of Business Purchase Agreement

A Philippine law-governed agreement for the transfer of an insurance portfolio between insurance providers, subject to Insurance Commission approval.

find out more

Assignment Of Rights (Insurance)

A Philippine law-governed document that transfers rights and interests in an insurance policy from an assignor to an assignee, complying with local insurance regulations.

find out more

Fronting Agreement (Insurance)

A Philippine law-governed agreement between a licensed local insurer and a reinsurer establishing terms for insurance fronting arrangements and risk transfer.

find out more

Credit Agreement (Insurance)

A Philippine law-governed agreement establishing terms for insurance-related credit facilities, combining insurance and banking regulatory requirements.

find out more

Buy And Sell Agreement (Insurance)

A Philippine law-governed agreement for the transfer of insurance business assets or portfolios between entities, ensuring regulatory compliance and protecting all parties' interests.

find out more

Life Insurance Indemnity Contract

A Philippine law-governed life insurance contract establishing coverage terms, beneficiary rights, and claim procedures between an insurer and policyholder.

find out more

Binding Authority Agreement

A Philippine law-governed agreement delegating insurance underwriting authority from an insurer to a coverholder, detailing operational and compliance requirements.

find out more

Standard Reinsurance Agreement

A legally binding reinsurance contract under Philippine law establishing terms for risk transfer between insurers and reinsurers, compliant with local insurance regulations.

find out more

Insurance Distribution Agreement

A Philippine law-governed agreement establishing terms for insurance product distribution between an insurer and distribution partner, compliant with local insurance regulations.

find out more

Loss Portfolio Transfer Agreement

A Philippine-law governed agreement for transferring an insurance portfolio and associated liabilities from an insurer to a reinsurer, subject to Insurance Commission regulations.

find out more

Insurance Premium Finance Agreement

A Philippine law-governed agreement facilitating the financing of insurance premiums through structured payment arrangements, compliant with local insurance and banking regulations.

find out more

Insurance Pooling Agreement

A Philippine law-governed agreement establishing a risk-sharing arrangement between multiple insurance companies, defining pool operations and member obligations.

find out more

Insurance Addendum

A formal modification to an existing insurance policy under Philippine law, regulated by the Insurance Commission of the Philippines.

find out more

Required Insurance Addendum To Lease Agreement

A Philippine-compliant addendum specifying mandatory insurance requirements and obligations for lease agreements, aligned with local insurance and property laws.

find out more

Temporary Insurance Agreement

A Philippine law-governed agreement providing temporary insurance coverage while permanent policy arrangements are pending, compliant with the Insurance Code of the Philippines.

find out more

Gap Indemnity Agreement

A Philippine law-governed agreement providing protection against gaps in security or payment obligations through indemnification arrangements.

find out more

Renters Insurance Agreement

A Philippine law-governed insurance agreement protecting renters' personal property and liability, compliant with local insurance regulations.

find out more

Liability Insurance Agreement

A Philippine-law governed agreement establishing liability insurance coverage terms, conditions, and obligations between an insurer and insured party.

find out more

Home Buy Sell Agreement

A legally binding contract under Philippine law for the sale and purchase of residential property, detailing all terms and conditions of the transaction.

find out more

Key Employee Agreement

A Philippine law-governed employment agreement for key employees, incorporating local labor law requirements and protecting both employer and employee interests.

find out more

Life Insurance Agreement

A Philippine-law governed life insurance contract establishing terms for death benefit payment to beneficiaries in exchange for premium payments.

find out more

Insurance Long Term Agreement

A long-term insurance agreement compliant with Philippine law, establishing comprehensive coverage terms and obligations between insurer and policyholder.

find out more

Car Insurance Agreement

A Philippine-law governed agreement establishing motor vehicle insurance terms between an insurer and policyholder, compliant with local insurance regulations.

find out more

Key Person Agreement

A Philippine law-governed agreement securing employment terms and retention incentives for crucial organizational personnel.

find out more

Life Settlement Agreement

A contract governed by Philippine law for the sale of a life insurance policy from the policy owner to a third-party investor, detailing transfer terms and regulatory compliance requirements.

find out more

Risk Transfer Agreement

A Philippine law-governed agreement for transferring specified business, operational, or financial risks from one party to another for consideration.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research
Oops! Something went wrong while submitting the form.

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

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.