Terms and Conditions

1. Definitions and interpretation
1.1. Definitions
1.2. Interpretation
2. Subject of the Agreement
3. Services
3.1. General provisions
3.2. Minimum and maximum amount to be insured
4. Disclaimer
5. Requirements to you
5.1. Ownership
5.2. Complying with AML and know your customer requirements
6. Pricing
6.1. Price
6.2. Terms of Payment
7. Insurance Payout
7.1. Amount of Insurance Payout
7.2. Requesting Insurance Payout
7.3. Paying of the Insurance Payout
8. Rights and obligations
8.1. Our rights and obligations
8.2. Your rights and obligations
9. Representations & warranties
10. Execution and amendment of Agreement with us
10.1. Execution of Agreement
10.2. Amendment of the Agreement
11. Termination of Agreement
11.1. Term
11.2. Extending term of Agreement
11.3. Termination of Agreement
12. Confidentiality
13. Intellectual Property
14. Taxation
15. Data Protection
16. Indemnity
16.1. General provisions
16.2. Force Majeure
17. Notices
18. Governing law and jurisdiction
19. Miscellaneous

1. Definitions and interpretation
1.1. Definitions
1.1.1. The following capitalized definitions when used in this Agreement will have the following meanings:
1.1.1.1. Agreement has the meaning set out in Art. 2.2;
1.1.1.2. Business day has the meaning of any day except Saturday, Sunday and public holidays in Switzerland;
1.1.1.3. Client or you have the meaning of any natural person or legal person that is purchasing Insurance from Crypto Insurance in accordance with the terms and conditions of these T&C and other documents to the Agreement;
1.1.1.4. Crypto Insurance or us (we, our) has the meaning of Crypto Insurance Sagl., a private limited liability company, code CHE-283.727.709, having its registered office at Via Madonnetta 23, 6900 Lugano, Switzerland;
1.1.1.5. Digital Wallet has the meaning of software-based system where you hold your Insured cryptocurrency;
1.1.1.6. Effective Date has the meaning set out in Art. 11.1.1;
1.1.1.7. Insurance has the meaning of our obligation to pay to you Insurance Payout in accordance with the provisions of the Agreement;
1.1.1.8. Insured cryptocurrency has the meaning of any cryptocurrency owned by you Insurance for which has been purchased with us;
1.1.1.9. Insurance Payout has the meaning of the amount of funds or cryptocurrency paid by us to you within terms and conditions of the Agreement;
1.1.1.10. Insurance Policy has the meaning of special terms and conditions agreed between you and Crypto Insurance;
1.1.1.11. Insurance Premium has the meaning of the amount of EUR payable by you to us for Insurance;
1.1.1.12. Maturity Date has the meaning set out in Art. 11.1.2;
1.1.1.13. Private Key has the meaning of code paired with Digital Wallet;
1.1.1.14. T&C has the meaning of these general terms and conditions;
1.1.1.15. Services has the meaning set out in Art. 3.1.1 of T&C;
1.1.1.16. Website has the meaning of http://cryptoinsuranceswiss.com;
1.2. Interpretation
1.2.1. References to Sections and Articles, unless stated or the context required otherwise, will be construed as references to Sections and Articles of these T&C.
1.2.2. References to Schedules, unless stated or the context required otherwise, will be construed as references to Schedules of this Agreement.
1.2.3. References to legal acts (if any) will include references to any amendment, modification, extension, consolidation, replacement or re-enactment of any such legal act.
1.2.4. In these T&C:
1.2.4.1. words importing the masculine gender include the feminine and the neuter and vice versa;
1.2.4.2. words in the singular include the plural and vice versa;
1.2.4.3. references to persons will include legal persons, unincorporated associations and partnerships, in each case whether or not having a separate legal personality;
1.2.4.4. words “include”, “includes” and “including” will be deemed to be followed by the phrase “without limitation”.

2. Subject of the Agreement
2.1. Together with the rest of the documents set forth in this Section, the Agreement governs provision of the Services by Crypto Insurance to you.
2.2. In addition to these T&C, your Agreement with Crypto Insurance will include the Insurance Policy, Privacy policy (https://cryptoinsuranceswiss.com/page/privacy-policy) and any other Schedules entered into between by you and Crypto Insurance or provided to you by Crypto Insurance (the Agreement), as may be amended from time to time by Crypto Insurance as specified in these T&C.
2.3. By executing the Agreement with you, Crypto Insurance undertakes to provide Services to you and you undertake to settle with Crypto Insurance under the terms and conditions of these T&C and other documents to the Agreement.

3. Services
3.1. General provisions
3.1.1. We will provide you cryptocurrency insurance services, i.e. we will insure cryptocurrency owned by you against the volatility of the market (the Services). The Services will be provided in accordance to the provisions of these T&C and other documents to the Agreement. For avoidance of any doubt, our Services do not intend to reimburse your damages in the event of loss of Insured cryptocurrency irrespective of the reason of such loss. Should such loss was the result of our default, we will reimburse your damages in accordance with the provisions of the Agreement, governing liability.
3.1.2. You will be entitled to purchase Insurance against cryptocurrencies supported by us and available on our Website. We retain the sole discretion to add or remove from our Services any cryptocurrency available on the market at any time during the term of the Agreement. In the event, we remove the Insured cryptocurrency as a supported cryptocurrency, your Insurance will continue until Maturity Date.
3.1.3. We retain the sole discretion to allow or disallow you to purchase Insurance for different cryptocurrencies under one Agreement provided different cryptocurrencies are supported by us and available on our Website. All relevant information regarding such option will be provided on our Website. .
3.1.4. We retain the sole discretion to exclude certain jurisdictions from the territory scope for the purpose of provision of our Services. You are not entitled to purchase our Services from such a jurisdiction if you originate from such a jurisdiction or you are temporarily in such a jurisdiction.
3.2. Minimum and maximum amount to be insured
3.2.1. We will set the minimum amount for each cryptocurrency supported by us and available on our Website to be insured and you will have to purchase Insurance at least for the minimum amount.
3.2.2. We retain the sole discretion to anytime impose or lift or change maximum value of each cryptocurrency supported by us, against which the Insurance can be purchased by you. The maximum value to be insured by us will be published on our Website in respect to each supported cryptocurrency. We discourage you from attempting to conclude more than one Agreement with us in order to circumvent this provision if you have reached the maximum allowed value of the respective cryptocurrency. Such an attempt will be considered as an attempt of fraud and will result in termination of the Agreement with an immediate effect.
3.2.3. Should we change the maximum value of cryptocurrency allowed to be insured with us, such change will not affect your Agreement with us until the Maturity Date.

4. Disclaimer
4.1. By accepting these T&C and executing the Agreement with us, you hereby represent and warrant that you understand that Crypto Insurance activities are not licensed. Nevertheless, by executing the Agreement with you, Crypto Insurance represents and warrants that Crypto Insurance activities comply with the applicable law in full. Should the legislation change and such change will require us to obtain any kind of license, we will comply with such change and approach the respective authorities to obtain any and all required licenses, permits or other authorizations. In the foregoing event, you will be respectively informed by e-mail.
4.2. Neither T&C and other documents to the Agreement, nor prior communication between you and us, irrespective of form of such communication, does not constitute an advice or counsel or solicitation in the light of our Services and will not be construed in that way.
4.3. We will not assess your knowledge neither regarding cryptocurrency as the digital asset, nor specific cryptocurrency Insurance for which is being purchased with us under the Agreement. By accepting these T&C and executing the Agreement, you confirm that you understand the nature of the Services you purchased, the provisions of the Agreement (including, but not limited to, of these T&C) and the possible risks attached to our Services.
4.4. Our Services are provided on an “as is” and “as available” basis, without any warranties or representations of any kind, and we expressly disclaim all warranties and representations relating to our Services (whether express or implied), including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, title and non-infringement.

5. Requirements to you
5.1. Ownership
5.1.1. You can only benefit from our Services in respect to the cryptocurrency that you own. I.e., you cannot purchase the Insurance for the cryptocurrency you do not own or you plan to own in the future or is owned by someone else. Should we become aware that you do not comply with the requirement set forth herein at any time during the term of the Agreement, we will be entitled to initiate termination of the Agreement with an immediate effect.
5.1.2. To manage risk of fraud that we are exposed to, we will request you to submit to us address of your Digital Wallet and Private Key in respect of the amount of cryptocurrency Insurance for which is being purchased under the Agreement. For avoidance of any doubt, we will be fully satisfied with you if you created the Digital Wallet specifically for fulfilling the obligation stipulated in this Article. Such address of Digital Wallet and the Private Key must be submitted to us before the execution of the Agreement following our instructions. Execution of the Agreement will be subject to proper fulfilment of the obligation set forth herein.
5.1.3. Taking in consideration Art. 5.1.2, we will only be entitled to access and use your Insured cryptocurrency in accordance with the Agreement. No other usage will be allowed to us and failure to comply with the provision of this Article will be considered as the material breach granting you the right to terminate the Agreement with an immediate effect. In such a case, we will be obliged to fully reimburse your damages and no limitation to the extent of direct damages will be applicable. For avoidance of any doubt, no indirect damages will be reimbursed under this Article.
5.1.4. We retain the right to request you to provide us with any and all data, documents and/or information to satisfy us that you are a legal and lawful owner of the Insured cryptocurrency and such cryptocurrency has been obtained in a legal and lawful way. Failure to comply with the provision of this Article will be considered as the material breach of the Agreement granting us the right to terminate the Agreement with an immediate effect.
5.1.5. You must maintain ownership to the amount of the cryptocurrency insured by us during the whole term of the Agreement and further to the extent as set forth in the Agreement. Failure to comply with the provision of this Article will be considered as the material breach of the Agreement granting us the right to terminate the Agreement with an immediate effect.
5.2. Complying with AML and know your customer requirements
5.3. By accepting these T&C and executing the Agreement, you hereby confirm that you understand that the payment of the Insurance Payout will be subject to the result of your assessment in accordance with the applicable AML and know your customer legislation.
5.4. By accepting these T&C and executing the Agreement, you hereby confirm that you understand that we will be entitled to request you to provide data, documents and/or information required to establish your identity and to comply with know your customer rules or similar obligations to which we may be subject to. You hereby confirm that you understand that we will have the sole discretion to request you to provide additional data, documents and/or information following submission of the initial data, documents and/or information, if such data, documents and/or information will be required to perform your risk assessment to fulfil our obligations under the applicable AML and know your customer legislation and thus, you must submit such data, documents and/or information without a delay, within a term specified by us in the request for such additional data, documents and/or information. Failure to meet the foregoing requirement and cure it within the additional term indicated by us may result in termination of the Agreement with an immediate effect.
5.4.1. By accepting these T&C and executing the Agreement, you hereby confirm that you understand that we retain the right to assess your compliance with the applicable AML and know your customer legislation to the extent satisfactory to us at any time during the term of the Agreement. You confirm that you understand that the outcome of such assessment, if negative, may result in termination of the Agreement with an immediate effect.

6. Pricing
6.1. Price
6.1.1. Price payable by you to us under the Agreement will be equal to 10% (ten percent) against the value of the Insurance (the Insurance Premium).
6.1.2. Insurance Premium will be paid in EUR to our bank account. We retain the sole right to add other FIAT currencies, payments in which to us can be made.
6.1.3. To calculate the Insurance Premium, the value of the amount of cryptocurrency to be insured with us for the benefit of yours will be calculated in EUR against the exchange rate of the cryptocurrency provided by Kraken (https://www.kraken.com/) and multiplying the value by 0.1 (i.e. 10%). Taking into consideration the foregoing and for the purpose of clarity, exchange rate of the cryptocurrency against EUR will be renewed each 10 (ten) minutes and will be publicly available on our Website.
6.1.4. We may apply other fees in relation to execution of the Agreement with you. Any and all fees applicable to you are made publicly available to you on our Website. We will not apply any fees prior application of which, such fees were not publicly available for you to familiarize with.
6.1.5. We will be entitled to unilaterally change prices payable for our Services, including, but not limited to, of the Insurance Premium. To avoid any doubt, in the event of change of the prices payable for our Services, such new prices will be applicable to the Agreement executed or term of which has been extended after such changes came into effect.
6.1.6. For the purpose of clarity, you will not be refunded of your Insurance Premium, save for the cases indicated in the Agreement.
6.2. Terms of Payment
6.2.1. You will be invoiced for the Insurance Premium and other applicable fees (if any) before the execution of the Agreement. To pay the Insurance Premium and other applicable fees (if any) you will be redirected to online payment services provider. We retain the sole right to add or remove any online payment services provider from our Website, if at least one payment services provider is available to you.
6.2.2. Insurance Premium and other applicable fees (if any) will be considered as to have been paid once the respective amount is credited to our bank account.
6.2.3. Any and all fees related to the payment of the Insurance Premium and other applicable fees (if any) will be born on you.

7. Insurance Payout
7.1. Amount of Insurance Payout
7.1.1. You will be entitled to receive Insurance Payout only if the Insured cryptocurrency loses its value as furtherindicated in these T&C. To establish change of value, the value of the Insured cryptocurrency on the Effective Date and value on the Maturity Date will be taken into consideration.. For the purpose of this provision, the value of the Insured cryptocurrency on Maturity Date will be calculated at 23:59:59 CEST against the exchange rate provide by Kraken (https://www.kraken.com/).
7.1.2. In the event the value of the Insured cryptocurrency increases, remains unchanged or loses its value up to 30.00% against its value on the Effective Date, you will not be entitled to any Insurance Payout under the Agreement.
7.1.3. In the event, Insured cryptocurrency loses its value at least 30.01% or no longer circulates in the market, irrespective of the reason, you will be entitled to the Insurance Payout.
7.1.4. In the event, Insured cryptocurrency loses its value at least 30.01%, but not more than 49.99%, you will receive the Insurance Payout to restore the value of the Insured cryptocurrency to 90% of the Insurance amount. Insurance Payout will be made in the Insured cryptocurrency. E.g., if you chose to insure Ethereum with us and Ethereum lost 40% of its value, you will be entitled to receive a respective amount of Ethereum so that the total value of the amount of the Ethereum held by you in relation to which the Insurance has been purchased with us would be equal to 90% of the Insurance value indicated in the Insurance Policy.
7.1.5. In the event, Insured cryptocurrency loses its value more than 49,99%, title to the Insured cryptocurrency will be passed to us. Following the foregoing, we will transfer the amount of Insured cryptocurrency to our digital wallet by using the Private Key given by you to us for the purpose of execution of the Agreement. If there was bigger amount of cryptocurrency in your Digital Wallet, we will only transfer the insured amount; otherwise, you will be entitled to claim direct damages from us without any limitation.
7.1.6. In the event, Insured cryptocurrency loses its value more than 49,99%, you will receive Insurance Payout in another cryptocurrency chosen by us. We will be solely entitled to decide on the cryptocurrency you will receive your Insurance Payout in. We retain a right, however, no obligation toward you under the Agreement, to offer you a choice of cryptocurrency you may receive your Insurance Payout in. The amount of the cryptocurrency paid to you by us under this provision will be equal to 100% of the Insurance value indicated in the Insurance Policy.
7.1.7. Amount of Insurance Payout payable to you by us under Art. 7.1.4 and 7.1.6 will be calculated on the Maturity date at 23:59:59 CEST against the exchange rate provide by Kraken (https://www.kraken.com/) if you chose not to extend the term of the Agreement.
7.1.8. For us to be able to fulfil our obligation under Art. 7.1.6 of these T&C, we may request you to open a digital wallet with the service provider specified by us. Failure to do so within the term specified by us (which in any case will not be shorter than 2 (two) weeks) will release us from any obligations against you. We may request you to perform other actions for us to be able to fulfil our obligations and you agree comply with such a request.
7.2. Requesting Insurance Payout
7.2.1. Following the Maturity Date, you will be serviced an email by us at the address registered with us. Such an email will contain information on the change of value of Insured cryptocurrency and further instructions as to how claim your Insurance Payout. In the event, you have not received an email from us within 5 (five) calendar days following the Maturity Date, you must immediately contact our Support service. Failure to do so may result in rejection of your Insurance Payout claim.
7.2.2. By accepting these T&C and executing the Agreement, you hereby represent and warrant that you understand that request regarding Insurance Payout may be submitted to us not later that within 1 (one) month following the Maturity Date. Upon maturity of the term indicated herein, we will be released from any obligation against you.
7.3. Paying of the Insurance Payout
7.3.1. Your Insurance Payout will be sent to your digital wallet specified by you.
7.3.2. We will be released from any further obligations towards you once the respective amount cryptocurrency will be added to your digital wallet.

8. Rights and obligations
8.1. Our rights and obligations
8.1.1. We will be obliged:
8.1.1.1. to provide the Services indicated in the Agreement within the terms and conditions of the Agreement (including, but not limited to these T&C);
8.1.1.2. to pay the Insurance Payout;
8.1.1.3. not to use or benefit from the Insured cryptocurrency in any other way than strictly in accordance with the provisions of the Agreement;
8.1.1.4. to keep the address of your Digital Wallet and Private Key out of reach to any third party and to ensure that no third party will benefit or use the Insured cryptocurrency in any illegal or unlawful way;
8.1.1.5. to ensure the processing of your personal data in line with the applicable law; and
8.1.1.6. to act fairly and to comply with the provisions of the Agreement (including, but not limited to these T&C).
8.1.2. We will be entitled to:
8.1.2.1. to request payment of the Insurance Premium and other applicable fees (if any) from you;
8.1.2.2. to request to transfer the title of the Insured cryptocurrency;
8.1.2.3. to request data, documents and/or information in order to fulfil our obligations under the Agreement or applicable law; and
8.1.2.4. other rights set forth in the Agreement (including, but not limited to these T&C).
8.2. Your rights and obligations
8.2.1. You will be obliged:
8.2.1.1. to pay the Insurance Premium and other applicable fees (if any) in line with the Agreement;
8.2.1.2. follow the instruction provided to you by us;
8.2.1.3. not to use the Agreement for the performance of illegal or fraudulent activities;
8.2.1.4. not to use the Agreement for activities that may harm our reputation and/or image;
8.2.1.5. not to use the Agreement for morally or ethically dubious purposes, or purposes which in any way violate applicable laws and regulations;
8.2.1.6. to keep the address of your Digital Wallet and Private Key out of reach to any third party and to ensure that no third party will benefit or use the Insured cryptocurrency in any illegal or unlawful way;
8.2.1.7. to respond to our requests in a timely and due manner; and
8.2.1.8. to act fairly and to comply with the provisions of the Agreement (including, but not limited to these T&C).
8.2.2. You will be entitled:
8.2.2.1. to request the Insurance Payout;
8.2.2.2. to request refund of the Insurance Premium;
8.2.2.3. to extend the term of the Agreement; and
8.2.2.4. other rights set forth in the Agreement (including, but not limited to these T&C).

9. Representations & warranties
9.1. By accepting these T&C and executing the Agreement with us and paying the Insurance Premium under the Agreement, you represent and warrant that you:
9.1.1. have read and understood the provisions of these T&C and other documents that the Agreement is composed of, including all its Schedules and other documents to which it is referred in the Agreement (if any); 

9.1.2. have the necessary authority and consent to sign the Agreement and to enter into a binding agreement with us and to perform the obligations set out herein;
9.1.3. execution of the Agreement will not result in any breach of, be in conflict with, or constitute a material default under: (i) any provision of your constitutional or organizational documents (in the case of a corporate entity including, without limitation, any company or partnership); (ii) any provision of any judgment, decree or order imposed on you by any court or governmental or regulatory authority; and/or (iii) any material agreement, obligation, duty or commitment to which you are the party or by which the you are bound;
9.1.4. have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptocurrency;
9.1.5. if you are an individual (i.e. a natural person), you are at least 18 years of age, have sufficient legal capacity according to your residency country laws to execute the Agreement and to enter into a binding agreement with us on the terms set out herein in these T&C and other documents of the Agreement;
9.1.6. if you are a legal entity including, without limitation, any company or partnership (or other type of legal entity that is not a natural person), such entity is duly incorporated, registered and validly existing under the applicable laws of the jurisdiction in which the entity is established;
9.1.7. Insured cryptocurrency is not derived from or related to any unlawful activities, including but not limited to money laundering or terrorist financing activities;
9.1.8. you are the sole owner of the Insured cryptocurrency and by purchasing our Services for Insured cryptocurrency, you do not infringe any other persons’ rights deriving out of or related to Insured cryptocurrency;
9.1.9. purchasing Insurance for cryptocurrency under the Agreement is not unlawful or prohibited under the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject and purchase of our Services will be made in full compliance with applicable laws (including, but not limited to, in compliance with any tax obligations to which you may be subject in any relevant jurisdiction);
9.1.10. you are not a citizen of or resident or domiciled in forbidden jurisdiction, in accordance with Art. 3.1.4 or purchasing our Services from such a jurisdiction, nor you are an entity (including, but not limited to, any company or partnership) incorporated, established or registered in or under the laws of a such a jurisdiction, nor you are purchasing our Services for or on behalf of any such person or entity;
9.1.11. you are not subject of any sanctions administered or enforced by any country, government or international authority, nor you are a resident or established (in the case of a corporate entity) in a country or territory that is the subject of a country-wide or territory-wide sanction imposed by any country or government or international authority;
9.1.12. you will comply with any applicable tax obligations in your jurisdiction arising from Insurance Payout;
9.1.13. you understand and accept the risk associated with using our Services. You understand and accept that usage of our Services may end in a loss of the Insured cryptocurrency and you are willing to accept such risk. Also, you understand and consent that in the event of loss of such Insured cryptocurrency your Insurance Payout will be made in the cryptocurrency chosen fully or partially by us without any warranties or representations of any kind, and we expressly disclaim all warranties and representations relating to such cryptocurrency (whether express or implied), including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, title and non-infringement;
9.1.14. you will not receive a refund of your Insurance Premium save cases set forth in the Agreement;
9.1.15. you acknowledge that you fully understand the content of the Agreement;
9.1.16. all of the above representations and warranties are true, complete, accurate and non-misleading on the day of execution of the Agreement and during each day of the Agreement as the have been made on each such day.

10. Execution and amendment of Agreement with us
10.1. Execution of Agreement
10.1.1. To execute the Agreement with us, you will have to perform the following steps:
10.1.1.1. to sign up (i.e. to open an account) on our Website;
10.1.1.2. perform necessary verifications, if any (such as of your e-mail address and/or telephone etc.);
10.1.1.3. from the cryptocurrencies available on our Website, choose such cryptocurrency which you are willing to insure with us and indicate the amount of such cryptocurrency;
10.1.1.4. submit address of your Digital Wallet and Private Key;
10.1.1.5. accept these T&C; and
10.1.1.6. perform any other actions indicated by us, if any.
10.1.2. Upon entering the required information on our Website, we will calculate the value of the cryptocurrency to be insured in EUR against amount indicated by you. For the purpose of this provision we will take into consideration exchange rate provided by Kraken (https://www.kraken.com/), published on our Website and renewed each 10 (ten) minutes.
10.1.3. Provided you are satisfied with the value of the cryptocurrency to be insured by us, you will have to confirm such value and continue paying the Insurance Premium and other applicable fees (if any). Once the Insurance Premium and other applicable fees (if any) are credited to our bank account, you will be issued Insurance Policy.
10.2. Amendment of the Agreement
10.2.1. We will be entitled to amend provisions of these T&C and other documents to the Agreement unilaterally save for exceptions indicated in the Agreement. Amended T&C will be serviced to you by e-mail 30 (thirty) calendar days prior they come into effect.
10.2.2. Amended T&C will be applicable to the agreements executed after such T&C came into effect or term of which has been extended after such T&C came into effect.
10.2.3. Insurance Policy can be only amended by your and our mutual consent in writing.

11. Termination of Agreement
11.1. Term
11.1.1. The Agreement will come into effect on the day the Insurance Premium and other applicable fees (if any) have been credited to our bank account (the Effective Date)
11.1.2. The term of the Agreement is 1 (one) year starting on the day after the Effective Date. The term of the Agreement will expire on the 365th day following the Effective Date (the Maturity Date).
11.1.3. The term of the Agreement can be extended for another period of 1 (one) year in accordance with these T&C.
11.2. Extending term of Agreement
11.2.1. If you are willing to continue using our Services under the Agreement, you must extend the term of the Agreement. You will be instructed by us either by e-mail or on our Website of the actions you are required to take in order to extend the term of the Agreement. For the purpose of clarity, the term of the Agreement will not be extended automatically.
11.2.2. You will not be able to extend the term of the Agreement if we have discontinued support of the Insured cryptocurrency on our Website.
11.2.3. If we changed limits of maximum amount of the Insured cryptocurrency allowed to be insured with us, you can extend the term only to the extent of the maximum amount if the initial amount under Agreement exceeds the maximum amount. For the amount of the Insured cryptocurrency exceeding the maximum amount provisions of Section 7 will be applied. By accepting these T&C and executing the Agreement with us, you understand and consent to the provision set forth herein.
11.2.4. If we changed limits of minimum amount of the Insured cryptocurrency allowed to be insured with us, no limitation regarding extension of term of the Agreement will be applied.
11.2.5. If you chose to extend the term of your Agreement, you will be issued renewed Insurance Policy by us, stating, including, but not limited to, the value and the amount of the Insured cryptocurrency and amount of the Insurance Premium.
11.2.6. The extended term will start on the next day following the Maturity Date, provided you have paid the Insurance Premium and other applicable fees (if any) complying with the terms and conditions of the Agreement.
11.2.7. If you chose to extend the term of the Agreement, you cannot request the Insurance Payout. Should you fail to pay your Insurance Premium and other applicable fees (if any), the Agreement will be considered as to have been terminated. Your Insurance Payout will be calculated against the Maturity Date and the day on which term for payment of the Insurance Premium and other applicable fees (if any) for the extended term of the Agreement elapsed and the lesser amount will be paid to you as the Insurance Payout.
11.2.8. The number of times you can extend the term of the Agreement will not be limited, unless we discontinue support of the Insured cryptocurrency or such cryptocurrency disappears from the market. We retain the sole discretion to impose limits regarding number of times of extension of the term of the Agreement at any time during the Agreement.
11.2.9. You will be issued and serviced to your e-mail address registered with us the Insurance Policy for the period of the extended term once the Insurance Premium and other applicable fees (if any) have been credited to our bank account.
11.3. Termination of Agreement
11.3.1. The Agreement expires on the Maturity Date, unless you extend the term of the Agreement.
11.3.2. You can terminate the Agreement with us at any time prior the Maturity Date, by servicing us with the e-mail regarding termination of the Agreement. If you chose to terminate the Agreement with us before the Maturity Date, you will not be entitled to any Insurance Payout and we will not refund you with your Insurance Premium. To be crystal clear, we will not accept any claims of whatsoever and we will not be obliged to reimburse any damages in relation to termination of the Agreement under this Article.
11.3.3. We can terminate the Agreement with an immediate effect by servicing you an e-mail to the address registered by us in the following cases:
11.3.3.1. you provided inaccurate or incomplete information about yourself;
11.3.3.2. outcome of your assessment is unsatisfactory to us;
11.3.3.3. there is a major change in your circumstances, to the extent that if such circumstances existed before or on the Effective Date, we will not have executed the Agreement with you;
11.3.3.4. you are in a material breach of the Agreement;
11.3.3.5. your breach of the Agreement continues, and such breach is not cured by you within the time limit specified by us in writing;
11.3.3.6. we become aware of your illegal activities;
11.3.3.7. you fail to respond to our request for information, data and/or documents and you do not cure such shortcoming within the time limit specified by us in writing;
11.3.3.8. in our opinion, your activities or actions will be damaging or may damage our image/reputation;
11.3.3.9. you or your beneficiary owners are included in the international sanctions list;
11.3.3.10. you become subject to debt collection action or are entered in debtors’ register;
11.3.3.11. you are declared insolvent, become subject to debt relief proceedings, enters into composition proceedings or similar debt relief arrangements, is declared bankrupt, go into liquidation, is subject to compulsory winding-up or otherwise ceases activities or commences cessation proceedings or enters into restructuring proceedings, unless you are undergoing restructuring and are entitled to enter into the Agreement under the applicable legislation, and choose to do so.
11.3.4. You will be liable to reimburse any and all our direct and indirect damages suffered regarding termination of the Agreement on any of the grounds indicated in Article 11.3.3.
11.3.5. You can terminate the Agreement with an immediate effect by servicing us an e-mail indicated in the Insurance Policy in the following cases:
1.1.1.1. Crypto Insurance becomes subject to debt collection action or are entered in debtors’ register;
1.1.1.2. Crypto Insurance becomes insolvent, becomes subject to debt relief proceedings, enters into composition proceedings or similar debt relief arrangements, is declared bankrupt, goes into liquidation, is subject to compulsory winding-up or otherwise ceases activities or commences cessation proceedings or enters into restructuring proceedings, unless Crypto Insurance is undergoing restructuring and is entitled to enter into the Agreement under the applicable legislation, and choose to do so.
11.3.6. In the event, the Agreement is terminated on any of the grounds indicated in Article 11.3.5, you will be refunded with your Insurance Premium and we will be obliged to reimburse your direct damages suffered regarding termination of the Agreement. We will not be entitled to claim ownership over the Insured cryptocurrency, irrespective of its value on the day of termination of the Agreement.
11.3.7. If you or us are serviced with an e-mail regarding termination of the Agreement, such termination will come into effect on the 5th (fifth) day following the day of receipt of such notice.

12. Confidentiality
12.1. We will keep all information obtained under the Agreement and related to the Agreement or performance of the Agreement confidential and will not disclose such information to any third party without prior written consent of the respective party (i.e. you or us, whatever may be the case) save the exceptions indicated in the applicable law.
12.2. Notwithstanding the above, provision of Art. 12.1 will not apply to information:
12.2.1. that at the time of its disclosure is publicly available;
12.2.2. that becomes publicly available without any fault of you or us (whatever the case may be), provided such information has been disclosed to you or us (whatever the case may be) without fault of respectively you or us;
12.2.3. that at the time of the disclosure of such information it was in the possession of the third party to which such information was disclosed and such information was not directly or indirectly acquired by the third party from the either you or us (whatever the case may be); and
12.2.4. rightfully acquired from a third party who did not obtain it under pledge of secrecy to either you or us (whatever the case may be).

13. Intellectual Property
13.1. The content of the Website, such as text, graphics, images, trademarks, service marks, logos and other material, are protected by copyright and other intellectual property laws under Switzerland laws and are owned by Crypto Insurance. Unauthorized use of the such content may violate copyright, trademark, and other laws. You may not sell, modify, reproduce, display, publicly perform, distribute, create derivative works or otherwise use or exploit the content of the Website in any way for any public or commercial purpose. The use of the contents of the Website on any other website or in a networked computer environment for any purpose is prohibited.
13.2. You acknowledge that Crypto Insurance owns exclusive rights in Crypto Insurance trademarks. You may not use Crypto Insurance as part of any of product, service, domain or company name and may not take, nor authorize any action inconsistent with Crypto Insurance exclusive trademark rights during the term of yours and Crypto Insurance legal relationship, unless you obtained Crypto Insurance consent in advance and in such an event, strictly to the extent provided within the consent. Nothing in these T&C grants you ownership or any rights to the Website, other than necessary to enable you to access the Website and use our Services. You undertake not to adjust or try to circumvent or delete any notices, including, but not limited to, any intellectual property notices) contained on the Website and in particular any digital rights or other security embedded or contained within the Website.

14. Taxation
14.1. You will be solely responsible for determining if your Insurance Payout gives rise to any tax implications on you.
14.2. You will be also solely responsible for withholding, collecting, reporting, paying, settling and/or remitting any and all taxes to the appropriate tax authorities in such jurisdiction(s) in which you may be liable to pay tax. Crypto Insurance will not be responsible for withholding, collecting, reporting, paying, settling and/or remitting any taxes (including, but not limited to, any income, capital gains, sales, value added or similar tax) which may arise from your Insurance Payout in connection with the Agreement.
14.3. By accepting these T&C, you agree not to hold us or any of our indemnified parties liable for any tax liability associated with or arising from the Agreement.

15. Data Protection
15.1. Processing of your personal data is governed by Privacy Policy which can be found on the Website. By accepting these T&C, you also agree to the terms of the Privacy Policy. You should print and keep a copy of the Privacy Policy together with these T&C.
15.2. We will not disclose personal data except as expressly permitted under the Agreement and otherwise only with your prior consent. However, we may be required to disclose your personal data and/or certain other information about you to the extent required by applicable law or by an order of a court or competent governmental or regulatory authority. By accepting these T&C and executing the Agreement, you expressly agree and consent to your personal data being disclosed to third parties to any extent required for the purposes of compliance with applicable law.
15.3. Subject to your consent, you can receive e-mail newsletters that will inform you about new product features, events, promotions, special deals etc. If you do not wish to receive any newsletters from us, you can opt out at any time by contacting us. Any e-mail newsletter you receive will also give you the option to unsubscribe from any future newsletter.

16. Indemnity
16.1. General provisions
16.1.1. Notwithstanding other provisions of these T&C that discuss Crypto Insurance liability limitation, under no circumstances will Crypto Insurance will be liable for any specific, indirect or incidental loss, operating losses, consequential damages, claims by third parties and/or lost data, profits, revenue, customers, goodwill or interest in any and all other events that were not specifically discussed in the Agreement. Amount of damages you can claim from us is limited to the amount of Insurance Premium.
16.1.2. Notwithstanding the foregoing and without thereby limiting liability, you will indemnify us for any losses or claims, including claims for damages, and for any complaints, legal proceedings or expenses (including, within reasonable limits, lawyers’ fees), including but not limited to any fine or fee imposed on us as a result of your breach of and/or failure to comply with the Agreement and/or all relevant regulations and legislation applicable to you. The foregoing will apply irrespective of the Agreement being terminated.
16.1.3. Limitations and exclusions of liability set out in Article 16.1.2 will not limit or exclude liability for the gross negligence, fraud or intentional, wilful or reckless misconduct, nor will it limit or exclude any losses for which, as a matter of applicable law, it would be unlawful to limit or exclude liability.
16.2. Force Majeure
16.2.1. Notwithstanding the foregoing, we will not be liable for losses incurred as a result of failure to comply with our obligations in connection with circumstances beyond our control. Even in areas where stricter liability rules prevail, we cannot be held responsible for losses incurred as a result of:
16.2.1.1. failure of our IT systems, inability to access IT, damage to the data maintained in the IT systems as a result of any of the reasons listed below, irrespective of whether us or a third party is responsible for the operation of such systems;
16.2.1.2. legislative or administrative interventions, natural disasters, war, revolution, civil unrest, sabotage, terrorism or vandalism (including virus attacks and computer hacking);
16.2.1.3. strikes, lockouts, boycotts or blockades, regardless of whether the conflict is directed against or was started by us, and regardless of the cause of such conflict. The foregoing also applies if the conflict only affects portions of us and other circumstances that are beyond our control.
16.2.2. Our exemption from liability in the event of force majeure does not apply if:
16.2.2.1. on the Effective Date we should have foreseen the circumstances giving rise to the loss, or if we should have been able to avoid or overcome the cause of the loss or consequences thereof by taking appropriate precautions;
16.2.2.2. the legislation under all circumstances makes us liable for the circumstances giving rise to the loss.

17. Notices
17.1. All communication will be handled by e-mail at the address registered with us at our Website. Any such e-mail will be considered to be received on the next Business day in Switzerland. Such communication will constitute written form.
17.2. Taking into consideration article 17.1 and other provisions of the Agreement, you undertake to constantly check your e-mail, as we can send sensitive information from time to time. We will not be liable if you fail to notice an e-mail from us due to the lack of frequency to check your email. If you lose access to your e-mail irrespective of the reasons thereof, you must immediately contact our support service
17.3. Both you and us will remain solely responsible for immediate, not later than within 3 (three) calendar days, submission of information about any changes of the e-mail address. In the event of failure to do so, neither you, nor us whatever will be the case, will hold no responsibility upon non-receipt of information and outcome thereof.

18. Governing law and jurisdiction
18.1. The Agreement will be governed by the laws of Switzerland and the competent court of Switzerland will hear our disputes arising out of or related to this Agreement.

19. Miscellaneous
19.1. Entire Agreement. The Agreement (including all its Schedules (if any)) contains the entire agreement between you and us hereto with respect to the relationship contemplated herein, and all prior negotiations, representations, agreements and understandings are merged into, extinguished by and completely expressed by it. We will execute any other instruments or documents or perform any other acts that will be or may be necessary to effectuate and carry on the purposes set forth in this Agreement.
19.2. Documents. Each of us will make it possible to either you or us to access any documents that may be reasonably necessary to carry out the purpose and intent of this Agreement.
19.3. Waiver. Any failure or delay by any each of us in exercising any right or remedy in one or many instances will not prohibit none of us from exercising it at a later time or from exercising another right or remedy. No part of this Agreement may be waived, modified, amended, or supplemented in any manner whatsoever except by a written document signed by us.
19.4. Invalidity. If any provision of this Agreement will be found by any court or legal authority to be invalid, unenforceable or illegal, the other provisions will remain valid and in force and, to the extent possible, the provision will be modified to ensure it is valid, enforceable and legal whilst maintaining or giving effect to its commercial intention.
19.5. Effect. All provisions of the Agreement which by their nature intend to continue will survive termination.
19.6. Assignment. You will not be entitled to assign your rights and obligations obtained under the Agreement to any third party without our prior written consent. We will be entitled to assign our rights and obligations obtained under the Agreement to any third party without your prior written consent.
19.7. Accrued rights. Termination of the Agreement will not affect accrued our rights and obligations unless such rights were accrued unlawfully or in breach of the Agreement.
19.8. Enforceability. No provisions of the Agreement will be intended to be enforceable by any other person other than either you or us.