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The Co Broker Agreement (Insurance) is essential for insurance brokers operating in the Netherlands who wish to collaborate while maintaining compliance with Dutch financial regulations. This document is typically used when two or more insurance brokers need to formally establish their working relationship, whether for specific clients, products, or ongoing cooperation. It addresses crucial aspects required under the Dutch Financial Supervision Act (Wft), including commission sharing arrangements, regulatory responsibilities, client data protection, and professional standards. The agreement ensures clear delineation of duties, protects both parties' interests, and maintains compliance with Dutch financial services regulations and EU directives. It's particularly important in scenarios where brokers combine their expertise, market access, or client relationships to provide comprehensive insurance solutions.

1. Parties: Identification of the participating insurance brokers, including their legal names, registration numbers, AFM license numbers, and registered addresses

2. Background: Context of the agreement, explaining the purpose of the co-broking arrangement and the parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement, including technical insurance terms and regulatory references

4. Scope of Services: Detailed description of the services to be provided by each broker, including their respective roles and responsibilities

5. Regulatory Compliance: Commitments to comply with relevant Dutch financial regulations, including Wft requirements and IDD obligations

6. Commission and Payment Terms: Structure of commission sharing, payment terms, and financial arrangements between the brokers

7. Client Ownership and Data Protection: Rules regarding client ownership, data sharing, and compliance with GDPR/AVG requirements

8. Professional Standards: Requirements for maintaining professional standards, including qualifications, insurance, and industry codes of conduct

9. Confidentiality: Obligations regarding confidential information handling and protection

10. Duration and Termination: Terms regarding the agreement's duration, renewal, and termination conditions

11. Liability and Indemnification: Allocation of liability between parties and indemnification provisions

12. Dispute Resolution: Procedures for handling disputes, including applicable law and jurisdiction

13. General Provisions: Standard contractual provisions including severability, entire agreement, and amendments