By Principal Underwriter Clause Samples

By Principal Underwriter. Principal Underwriter agrees to indemnify and hold harmless Insurer and any of its officers, directors, employees or agents, against any and all losses, claims, liabilities, and expenses which the Insurer may incur as a direct or indirect result of Principal Underwriter’s or any of its officers, directors, employees or agents breach of any term of this Agreement, except to the extent such loss, claim, liability or expense arises out of or is based upon the gross negligence or willful misconduct of Insurer or its directors, officers, employees or agents.