Yes, there is. I have not read it in great detail, but I would not be at all surprised to find out that, like the rest of the AMA insurace, it is full of holes. Also, since the main AMA insurance is secondary / tertiary (only kicks in after other insurances are exhausted), it's quite possible that the hold-harmles policy also only applies after your own insurance has been wiped out.

Regs,
Gordon