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The Terms Of Business Agreement (Insurance) serves as the foundational document governing the professional relationship between insurance intermediaries and their clients in the Netherlands. This agreement is essential for compliance with Dutch financial services regulations, particularly the Financial Supervision Act (Wft) and the Insurance Distribution Directive (IDD) as implemented in Dutch law. It is typically used when establishing new business relationships or updating existing arrangements to ensure regulatory compliance. The document details service provisions, regulatory obligations, remuneration structures, and operational procedures, while incorporating specific Dutch legal requirements regarding insurance intermediation, client money handling, and data protection. This TOBA is particularly important given the strict regulatory environment in the Netherlands for financial services providers and the need for transparent, compliant business relationships in the insurance sector.

1. Parties: Identification of the insurance intermediary/broker and the client, including full legal names, registration numbers, and addresses

2. Background: Context of the agreement, establishing the framework for insurance intermediary services

3. Definitions: Key terms used throughout the agreement, including regulatory terminology specific to Dutch insurance law

4. Scope of Services: Detailed description of insurance broking/intermediary services provided, including placement, claims handling, and advisory services

5. Regulatory Status and Compliance: Statement of regulatory authorizations, registrations, and compliance with Dutch and EU regulations

6. Duties and Responsibilities: Specific obligations of both parties, including information disclosure and duty of care requirements

7. Remuneration: Details of fees, commissions, and other charges, including transparency requirements under Dutch law

8. Client Money Handling: Procedures for handling client funds in accordance with Dutch financial regulations

9. Data Protection and Confidentiality: GDPR compliance measures and confidentiality obligations

10. Duration and Termination: Terms for agreement duration, renewal, and termination procedures

11. Liability and Indemnity: Limitation of liability provisions and indemnification terms compliant with Dutch law

12. Force Majeure: Circumstances under which parties may be relieved of their obligations

13. Complaints Procedure: Process for handling client complaints in accordance with Dutch regulatory requirements

14. Governing Law and Jurisdiction: Specification of Dutch law as governing law and jurisdiction for disputes