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The Insurance Pooling Agreement serves as the foundational document for establishing and operating insurance pools in Singapore. This agreement is particularly crucial when multiple insurers need to collaborate to provide coverage for large or complex risks that might be too substantial for a single insurer to handle. The agreement complies with Singapore's regulatory framework, including MAS requirements and the Insurance Act, while detailing the operational mechanics of the pool, including risk sharing, premium allocation, claims handling, and administrative procedures. It's commonly used in sectors requiring substantial insurance capacity or specialized risk management approaches.

1. Parties: Identification of pool participants and administrator

2. Background: Purpose of the pooling arrangement and context

3. Definitions: Key terms used throughout the agreement

4. Pool Structure: Organization and governance of the insurance pool

5. Risk Sharing Mechanism: Distribution of premiums and losses among participants

6. Administration: Pool management and operational procedures

7. Financial Provisions: Premium handling, claims settlement, and accounting

8. Term and Termination: Duration and exit provisions