Terms of Use

Please read these Terms of Use ("Terms", "Terms of Use") carefully before using the Lloyds Insurance protocol and website (the "Service") operated by Lloyds Insurance DAO ("us", "we", or "our").

Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all visitors, users, and others who access or use the Service.

By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms, you may not access the Service.

1Use of Service

The Lloyds Insurance protocol is a decentralized application ("dApp") that runs on blockchain networks. By using our Service, you understand and accept the inherent risks associated with using cryptographic and blockchain-based systems, and that the cost and processing time of transactions may vary.

2Eligibility

By using the Service, you represent and warrant that:

• You are at least 18 years old;
• You have the full right, power, and authority to agree to these Terms;
• You are not subject to any sanctions administered or enforced by any country or government or otherwise prohibited or restricted from engaging in any transaction with us;
• You are not accessing the Service from a jurisdiction where the use of the Service is prohibited.

3Your Account and Wallet

To use the Service, you will need a compatible cryptocurrency wallet. You are responsible for maintaining the security of your wallet, including safekeeping your private keys, seed phrases, passwords, and other security measures. We will never ask you for your private keys or seed phrases.

You acknowledge that we have no control over any blockchain network, your wallet, and cannot recover or assist you to recover or access any lost or stolen cryptocurrency, tokens, or private keys.

4Insurance Coverage and Claims

The Lloyds Insurance protocol offers insurance products for various Web3 and crypto risks. By purchasing coverage through our protocol, you agree to the specific terms and conditions of each coverage product, which will be clearly described at the time of purchase.

Claims are processed according to the procedures outlined in each specific coverage product and are subject to verification and validation as described in those terms.

5Risks

You understand and acknowledge that:

• The Service is experimental and may contain bugs, errors, or other issues;
• The regulatory and legal status of blockchain technology and cryptocurrencies is uncertain, which could impact the Service or your use of it;
• The value of cryptocurrencies can fluctuate substantially and may even become worthless;
• Transactions on blockchain networks are irreversible and, if sent to an incorrect address, may not be recoverable;
• Smart contracts may be subject to vulnerabilities, exploits, or other unforeseen issues.

6Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL LLOYDS INSURANCE DAO, ITS AFFILIATES, OR THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, OR AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES RESULTING FROM:

• THE USE OR INABILITY TO USE THE SERVICE;
• UNAUTHORIZED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA;
• ANY OTHER MATTER RELATING TO THE SERVICE.

7Governing Law

These Terms shall be governed and construed in accordance with the laws of the British Virgin Islands, without regard to its conflict of law provisions.

8Changes to Terms

We reserve the right, at our sole discretion, to modify or replace these Terms at any time. We will provide notice of any significant changes to these Terms by posting the new Terms on the Service. Your continued use of the Service after any such changes constitutes your acceptance of the new Terms.

9Contact Us

If you have any questions about these Terms, please contact us at legal@lloydsinsurance.xyz.