Client AOR Forms

CLIENT AOR FORMS

This Agent of Record Agreement ("Agreement") is made as of by and between Client Name: with address (hereinafter "Client") and Agent/Agency Name: with mailing address (hereinafter "Agent").

WHEREAS

WHEREAS, Client currently maintains or seeks insurance coverage and related services for Client's business interests or property and desires a single authorized representative to act on Client's behalf with insurers, brokers, and other service providers;

WHEREAS, Agent represents that Agent is duly authorized, licensed, and competent to act as agent of record to negotiate, obtain information, procure proposals, and place or change coverage as described herein; and

WHEREAS, the parties desire to set forth the terms under which Agent will serve as Client's Agent of Record for the matters described in this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows.

SCOPE OF WORK

Agent is authorized to act on behalf of Client for the purposes set forth in the Scope of Work, including without limitation: obtaining policy information, requesting endorsements, representing Client in communications with insurers, receiving notices and billing statements, and negotiating terms of renewal or replacement coverage to the extent expressly authorized in writing by Client.

PAYMENT TERMS

Client shall compensate Agent as follows: Client shall pay Agent a fee of $ for the services described herein.

Any amounts not paid when due shall bear interest at the lesser of 1.5% per month or the maximum rate permitted by law, and Client shall reimburse Agent for reasonable collection costs, including attorney fees, incurred in enforcing payment obligations.

TERM AND TERMINATION

This Agreement shall commence on and shall continue in effect until unless earlier terminated in accordance with this Section.

Either party may terminate this Agreement without cause by providing written notice to the other party at least days prior to the effective termination date. Termination shall not relieve Client of obligations to pay fees for services performed through the effective date of termination.

CONFIDENTIALITY

Each party shall maintain in confidence and shall not disclose to any third party any non-public information obtained from the other party in connection with this Agreement, except as required by law or as necessary to perform the services contemplated herein. Information shall not be deemed confidential if it: (i) is or becomes generally available to the public other than by a breach of this Agreement; (ii) was already rightfully in the receiving party's possession prior to receipt; or (iii) is rightfully received from a third party without restriction.

Agent may disclose Client information to insurers, reinsurers, service providers, and other parties where necessary to place and service coverages, provided that Agent uses commercially reasonable efforts to limit disclosures to the information necessary for such purposes.

AUTHORIZATION AND AGENT POWERS

Client hereby appoints Agent as Client's Agent of Record for the matters and coverages identified in the Scope of Work. Client authorizes Agent, to the extent Client authorizes below, to take the following actions on Client's behalf:

Obtain policy, claims and underwriting records and statements from insurers and third-party administrators

Negotiate terms, coverage limits and pricing with insurers

Execute endorsements, renewals and administrative documents on Client's behalf where insurer form permits

If Client does not check an authority box, Agent shall not exercise that authority without separate written consent from Client.

REPRESENTATIONS AND WARRANTIES

Each party represents and warrants that it has the full right, power, and authority to enter into this Agreement and to perform its obligations hereunder. Client represents that the information provided to Agent is true, complete, and accurate to the best of Client's knowledge, and Client agrees to promptly notify Agent of any material changes.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to its conflict of law principles.

ENTIRE AGREEMENT; AMENDMENT

This Agreement, including any schedules or attachments executed by the parties, constitutes the entire agreement between Client and Agent with respect to the subject matter hereof and supersedes all prior and contemporaneous negotiations, proposals and agreements, whether written or oral. Any amendment or modification to this Agreement must be in writing and signed by both parties.

SEVERABILITY; REMEDIES

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force and effect. The rights and remedies provided herein are cumulative and not exclusive of any rights or remedies provided by law.

NOTICES

Notices shall be in writing and shall be deemed received when delivered in person, sent by overnight courier, or three business days after deposit in the U.S. mail, postage prepaid.

ACKNOWLEDGEMENT

Client acknowledges that appointment of an Agent of Record may alter which agent receives commissions or fees related to Client's policies and that Client has the right to rescind or change the Agent of Record in accordance with insurer rules and applicable law. Client further acknowledges that Agent has explained the scope of the authority requested herein.

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