Health Insurance Agents Contract
Indemnification
The Health insurance agent agrees to defend, indemnify and hold harmless HIL against any and all claims (including, but not limited to, reasonable attorney fees incident thereto) which arise out of Broker's actions pursuant to this Agreement, including claims arising out of ILP's own negligence, unless a judicial determinations is made that the claims results solely from the negligence of ILP. ILP, reserves the right, at its sole option, to defend any claim and expend such sums as may be necessary, including attorney's fees, and Broker shall immediately reimburse ILP for any such sums.
Liability Insurance
Broker agrees that he/she shall carry Errors and Omissions liability insurance covering the Broker and HIL in an amount not less than $1,000,000 per occurrence while this Agreement is in effect. Broker shall provide written proof of such insurance to ILP upon request.
Remedies
Health insurance agents acknowledge and agree that he/she has acquired or will acquire a special knowledge of the affairs, business and operations of ILP and that the breach or threatened breach of the Agreement may result in irreparable harm to ILP, the monetary value of which would be difficult to establish. Broker therefore agrees and consents that, in addition to any other remedies available to the ILP, to the extent permissible by law, the agency shall be entitled to injunctive relief or other equitable relief to prevent a breach or contemplated breach by the Broker of any of the covenants or agreements contained in this Agreement. In the event of breach or threatened breach of this Agreement, Agent/Broker agrees to pay all of ILP's court costs and reasonable legal and expenses arising out of an action to enforce the terms and obligations arising under this Agreement.
Acknowledgement of enforceability
Health insurance agent hereby acknowledges and agrees that the Agreement; (a) is supported by independent valuable consideration; (b) contains reasonable limitations as to time and scope of activity prohibited and (c) does not impose a greater restraint than is necessary to protect the good will or other legitimate business interest of ILP.
Disputes Between Brokers
If any dispute shall arise between health insurance agent and any other independent broker of ILP, or any applications to or policyholder of ILP, upon any matter whatsoever relating to the business of the Agency, such dispute shall be submitted to ILP as arbitrator and its decision shall be final. Broker shall not litigate any such dispute without the written consent of the agency. In the event of such litigation the entire expenses and damages shall be borne by parties to the dispute and not ILP.
The Health insurance agent agrees to defend, indemnify and hold harmless HIL against any and all claims (including, but not limited to, reasonable attorney fees incident thereto) which arise out of Broker's actions pursuant to this Agreement, including claims arising out of ILP's own negligence, unless a judicial determinations is made that the claims results solely from the negligence of ILP. ILP, reserves the right, at its sole option, to defend any claim and expend such sums as may be necessary, including attorney's fees, and Broker shall immediately reimburse ILP for any such sums.
Liability Insurance
Broker agrees that he/she shall carry Errors and Omissions liability insurance covering the Broker and HIL in an amount not less than $1,000,000 per occurrence while this Agreement is in effect. Broker shall provide written proof of such insurance to ILP upon request.
Remedies
Health insurance agents acknowledge and agree that he/she has acquired or will acquire a special knowledge of the affairs, business and operations of ILP and that the breach or threatened breach of the Agreement may result in irreparable harm to ILP, the monetary value of which would be difficult to establish. Broker therefore agrees and consents that, in addition to any other remedies available to the ILP, to the extent permissible by law, the agency shall be entitled to injunctive relief or other equitable relief to prevent a breach or contemplated breach by the Broker of any of the covenants or agreements contained in this Agreement. In the event of breach or threatened breach of this Agreement, Agent/Broker agrees to pay all of ILP's court costs and reasonable legal and expenses arising out of an action to enforce the terms and obligations arising under this Agreement.
Acknowledgement of enforceability
Health insurance agent hereby acknowledges and agrees that the Agreement; (a) is supported by independent valuable consideration; (b) contains reasonable limitations as to time and scope of activity prohibited and (c) does not impose a greater restraint than is necessary to protect the good will or other legitimate business interest of ILP.
Disputes Between Brokers
If any dispute shall arise between health insurance agent and any other independent broker of ILP, or any applications to or policyholder of ILP, upon any matter whatsoever relating to the business of the Agency, such dispute shall be submitted to ILP as arbitrator and its decision shall be final. Broker shall not litigate any such dispute without the written consent of the agency. In the event of such litigation the entire expenses and damages shall be borne by parties to the dispute and not ILP.
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