Terms of Use


Last updated 23 January 2023

  1. About these terms

1.1 These terms and conditions of use (Terms) govern your use of our website(s) and insurance marketplace application (collectively our Platform).

1.2 These Terms apply between Nayms SAC Ltd (we, us or our) and the person or corporate entity on whose behalf you are using the Platform (you or your).

1.3 If you are using our Platform on behalf of a corporate entity then by continuing to use our Platform you are confirming that you have authority to accept these Terms on behalf of the corporate entity.

1.4 You should read these Terms carefully before using the Platform. By using the Platform or otherwise indicating your consent, you agree to be bound by these Terms. If you do not agree with any of these Terms, you should stop using the Platform immediately.

1.5 These Terms apply to all parts of the Platform, its functionality and content made available to you.

1.6 If there is a conflict between any of the provisions of these Terms and any of the provisions of any other agreement between you and us (Other Agreement(s)), the provisions of the Other Agreements will prevail.

  1. About us

2.1 We are Nayms SAC Ltd, an exempted limited company, registered under the Segregated Accounts Companies Act 2000, and whose registered address is Crawford House, 50 Cedar Avenue, Hamilton HM11 Bermuda, and whose registered number is 55347.

2.2 We hold a Class F licence under the Digital Asset Business Act 2018 and a Class IIGB licence under the Insurance Act 1978.

2.3 If you have any questions about the Platform, please contact us by filling out and submitting the online form available herehttps://nayms.com/contact.

  1. Using the Platform

3.1 You agree that you are solely responsible for all costs and expenses you may incur in relation to your use of the Platform.

3.2 You acknowledge that you access the Platform at your own initiative and are responsible for compliance with local laws where they apply.

3.3 As a condition of your use of the Platform, you agree not to:

  • 3.3.1 misuse or attack our Platform by knowingly introducing viruses, trojans, worms, logic bombs or any other material which is malicious or technologically harmful (such as by way of a denial-of-service attack);
  • 3.3.2 attempt to gain unauthorised access to our Platform, the server on which our Platform is stored or any server, computer or database connected to our Platform;
  • 3.3.3 resell, lease, share, distribute or otherwise permit any unauthorised third party to use the Platform;
  • 3.3.4 use the Platform to design, develop or create any competing product or service; or
  • 3.3.5 otherwise use the Platform for any commercial or non-commercial purpose other than the intended purposes determined at our discretion.

3.4 We may prevent or suspend your access to the Platform if you do not comply with these Terms or any applicable law.

3.5 We try to make sure that the Platform is accurate, up-to-date and free from bugs, but we cannot promise that it will be. Furthermore, we cannot promise that the Platform will be fit or suitable for any purpose. Any reliance that you may place on the information on the Platform is at your own risk.

  1. Registration and password security

4.1 Use of the insurance marketplace on our Platform requires registration and the creation of an identity (your Profile) in order to access and use restricted areas of the Platform.

4.2 We are not obliged to permit anyone to register with the Platform and we may refuse, terminate or suspend registration to anyone at any time.

4.3 You are responsible for making sure that your password and any other registration details are kept secure and confidential.

4.4 If we have reason to believe there is likely to be a breach of security or misuse of the Platform through your Profile or the use of your password, we may notify you and require you to change your password, or we may suspend or terminate your Profile.

  1. Access to and availability of the Platform

5.1 We may suspend or terminate access or operation of the Platform at any time as we see fit.

5.2 While we try to make sure that the Platform is available for your use, we do not promise that the Platform will be available at all times or that your use of the Platform will be uninterrupted.

  1. Changes to the Platform

We may, at our discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, all or any part of the Platform.

  1. Intellectual property rights

7.1 The intellectual property rights in the Platform and in any text, images, video, audio or other multimedia content, software or other information or material submitted to or accessible from the Platform (Content) are owned by us and our licensors.

7.2 We and our licensors reserve all our intellectual property rights (including, but not limited to, all copyright, trade marks, domain names, design rights, database rights, patents and all other intellectual property rights of any kind) whether registered or unregistered anywhere in the world. This means, for example, that we remain owners of them and are free to use them as we see fit.

7.3 Nothing in these Terms grants you any legal rights in the Platform or the Content other than as necessary for you to access and use its functionality. You agree not to adjust, try to circumvent or delete any notices contained on the Platform or the Content (including any intellectual property notices) and in particular, in any digital rights or other security technology embedded or contained within the Platform or the Content.

7.4 We will own any feedback, suggestions, ideas, or other information or materials regarding the Platform that you provide (Feedback). You hereby assign to us all right, title and interest to Feedback together with all associated intellectual property rights. You will not be entitled to, and hereby waive any claim for, acknowledgment or compensation based on any Feedback.

  1. Security and sharing of information submitted to the Platform

8.1 We will use reasonable efforts to make sure that the Platform is secure.

8.2 Information supplied to us through the Platform may be made available to other users of the Platform where it is necessary for the purpose of providing or receiving services via the Platform.

  1. Content Disclaimer

9.1 Any Content is provided for your general information purposes only and to inform you about us and our products and services that may be of interest, but has not been tailored to your specific requirements or circumstances. It does not constitute:

  • 9.1.1 an offer to purchase or subscribe for any investment, product or service; or
  • 9.1.2 technical, financial or legal advice or any other type of advice and should not be relied on for any purposes. You should always use your own independent judgement when using our Platform and its Content.
  1. Our liability to you

10.1 Subject to the remainder of this clause 10, our liability under or in connection with these Terms (regardless of whether such liability arises in tort, contract or in any other way or is caused by negligence or misrepresentation) will not exceed the greater of $10,000 or the total fees that you have paid to us in the twelve-month period immediately preceding the event giving rise to your claim for liability.

10.2 We will not be liable to you under or in connection with these terms (regardless of whether such liability arises in tort, contract or in any other way and whether or not caused by negligence or misrepresentation) for:

  • 10.2.1 consequential, indirect or special loss; or
  • 10.2.2 any of the following (whether direct or indirect):
  • (a) loss of profit;
  • (b) loss of revenue;
  • (c) loss or corruption of data;
  • (d) loss or corruption of software or systems;
  • (e) loss of commercial opportunity;
  • (f) loss of unrealised gain;
  • (g) loss of savings, discount or rebate;
  • (h) harm to reputation or loss of goodwill;
  • (i) loss of business;
  • (j) wasted expenditure; and/or
  • (k) losses arising from:
  • (i) any default, breach, act or omission of any party who uses our Platform;
  • (ii) the Content, except to the extent such loss results from a breach of these Terms by us;
  • (iii) your negligent acts or omissions, including but not limited to:
  • (A) using the Platform to send or receive cryptocurrency not supported by the Platform;
  • (B) transferring cryptocurrency from the Platform to an incorrect blockchain address; or
  • (C) failure to maintain the security of your Profile or of the wallet(s) that you use to make or receive transfers of cryptocurrency;
  • (iv) fluctuations in the fiat currency value of funds in a Profile; and/or
  • (v) remittance by Nayms of funds in a Profile, pursuant to a government or court order.

10.3 Nothing in these terms excludes or limits our liability for any death or personal injury caused by our negligence, liability for fraud or fraudulent misrepresentation, or any other liability that the law does not allow us to exclude or limit.

10.4 You shall not be entitled to recover any amount under these terms in respect of any claim to the extent that recovery has already been made under any Other Agreement(s) in respect of the same subject matter.

10.5 Without prejudice to any of our obligations under these Terms, you acknowledge that the provision of the Platform by us will not replace the need for you to conduct your own checks and obtain your own approvals in respect of:

  • 10.5.1 any business to be conducted via the Platform; and
  • 10.5.2 verifying the identity of any third party with whom you conduct business via the Platform.
  1. Warranties

11.1 We warrant that we will use reasonable care and skill in the design and operation of the Platform.    

11.2 Other than is set out in clause 11.1 and subject to clause 10.3, all warranties, conditions, terms, undertakings or obligations whether express or implied by statute, common law or otherwise and including any implied terms relating to quality, fitness for any particular purpose or ability to achieve a particular result are excluded to the extent permitted by law.

  1. Events beyond our control

We are not liable to you if we fail to comply with these Terms because of circumstances beyond our reasonable control.

  1. Confidentiality

13.1 We and you each agree to maintain the confidentiality of the other’s non-public information (whether oral, printed or electronic) that may reasonably be considered to be confidential in nature (Confidential Information) and must not, without the prior written consent of the other, access, disclose, copy, modify, store, or use the Confidential Information (or permit others to do so) other than as necessary for the performance of its express rights and obligations under these Terms or any Other Agreement(s).

13.2 Each of you and us must give written notice to the other of any breach of 13.1 upon becoming aware of the same.

13.3. The provisions of this clause shall not apply to information that:

  • 13.3.1 is publicly accessible on any blockchain with which the Platform interacts;
  • 13.3.2 is or comes into the public domain through no fault of the party concerned;
  • 13.3.3 is lawfully received from a third party who is free of any obligation of confidence at the time of receipt;
  • 13.3.4 is independently developed without knowledge of the other’s Confidential Information; or
  • 13.3.5 is required by applicable law to be disclosed.
  1. Your privacy and personal information

Any personal information that you provide to us will be dealt with in line with our Privacy Policy available at https://nayms.com/privacy/.

  1. No third party rights

No one other than us or you has any right to enforce any of these Terms.

  1. Variation

16.1 No changes to these Terms are valid or have any effect unless agreed by us in writing or made in accordance with clause 16.2.

16.2 We may vary these Terms from time to time. Our updated Terms will be displayed on the Platform and by continuing to use and access the Platform following such changes, you agree to be bound by any variation made by us. It is your responsibility to check these Terms from time to time to verify such variations.

  1. Assignment and subcontracting

17.1 You are not allowed to transfer your rights under these Terms to anyone without our prior written consent.

17.2 We may transfer our rights and obligations under these Terms to another business without your consent.

  1. Severance

If any provision of these Terms (or part of any provision) is or becomes illegal, invalid or unenforceable, the legality, validity and enforceability of any other provision of these terms will not be affected.

  1. No waiver

If you breach these Terms and we take no action, we will still be entitled to use our rights and remedies in any other situation where you breach these Terms.

  1. Misrepresentation

You acknowledge that you have not entered into these Terms in reliance on any representation or warranty that is not expressly set out in these Terms and that you will have no claim for innocent or negligent misrepresentation on the basis of any statement herein.

  1. Governing law and jurisdiction

21.1 The laws of Bermuda apply to these Terms.

21.2 Any disputes will be subject to the exclusive jurisdiction of the courts of Bermuda.

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