This contract is for brokerage services for workman's compensation insurance. Lockton will provide services such as analyzing proposals, presenting coverage alternatives, and assisting with claims management. The contract has an initial term of one year, with the option to extend or renew. The compensation for Lockton will be in the form of commissions payable by the insurance carriers. The contract also includes provisions for confidentiality, termination, and limitation of liability.
• The contract is for a specific line of coverage (workman's compensation)
• The vendor (Lockton) will provide various services, including analysis of proposals and claims management
• The contract has an initial term of one year, with options for extension or renewal
• The compensation for the vendor will be in the form of commissions
• The contract includes provisions for confidentiality, termination, and limitation of liability