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The Insurance Agent Agreement is a fundamental document used to establish a formal business relationship between insurance companies and their appointed agents in Denmark. This agreement is essential when an insurance company wishes to expand its distribution network through authorized agents who will sell and promote their insurance products. The document must comply with the Danish Insurance Mediation Act, the Danish Financial Business Act, and relevant EU regulations, particularly the Insurance Distribution Directive (IDD). It includes detailed provisions on regulatory compliance, commission structures, operational procedures, data protection requirements, and professional standards. The agreement is particularly important in the current regulatory environment where insurance distribution is heavily regulated and requires clear documentation of responsibilities, obligations, and compliance requirements.

1. Parties: Identification of the insurance company and the insurance agent, including registration numbers and regulatory authorizations

2. Background: Context of the agreement, including the agent's qualifications and the company's authorization to conduct insurance business in Denmark

3. Definitions: Key terms used throughout the agreement, including regulatory terminology from Danish insurance laws

4. Appointment and Scope: Terms of the agent's appointment, territory, and authorized insurance products

5. Regulatory Compliance: Obligations to comply with Danish Insurance Mediation Act and other relevant regulations

6. Agent's Duties and Responsibilities: Core obligations including customer service, reporting, and compliance with company policies

7. Company's Duties and Responsibilities: Support, training, and materials to be provided by the insurance company

8. Licensing and Training: Requirements for maintaining necessary licenses and completing required training

9. Commission and Payment Terms: Commission structure, calculation methods, and payment terms

10. Confidentiality and Data Protection: Obligations under Danish data protection laws and handling of confidential information

11. Non-Competition and Non-Solicitation: Restrictions during and after the agreement term

12. Record Keeping: Requirements for maintaining records in compliance with Danish regulations

13. Professional Indemnity Insurance: Requirements for maintaining professional liability coverage

14. Term and Termination: Duration, renewal, and termination provisions

15. Post-Termination Obligations: Duties and responsibilities after agreement termination

16. Governing Law and Jurisdiction: Confirmation of Danish law governance and jurisdiction for disputes