TERMS & CONDITIONS

I/we confirm and agree that all insurance products, services and transactions between me/us (“the Customer”) and Stanbic IBTC Insurance Limited (“the Company”) shall be governed by the conditions specified below and/or the terms of any specific insurance policy or agreement between me/us and the Company or where not regulated by either the conditions or such agreement, by the relevant laws of the Federal Republic of Nigeria:

Disclaimer

The products and services on this portal/online platform are offered by the Company, a wholly owned subsidiary of Stanbic IBTC Holdings PLC, only in jurisdictions where and when they may lawfully be offered and the product and services are not intended for use by persons subject to, located in or resident in jurisdictions which restrict the use of these product and services. While the Company attempts to ensure that the contents on the portal/online platform are accurate, current, complete, fit for its intended purpose and compliant with relevant Nigerian legislations and regulations as at the date of issue, the Company makes no representation or warranty, whether express or implied, as to the operation, integrity, availability or functionality of this portal/online platform or as to the accuracy, completeness or reliability of any information thereto. I/we agree that every transaction executed on this portal/online platform is made with the knowledge that I/we are aware of the risks relating to such transactions and I/we permit the Company to regard all activities I/we conduct or instructions sent after I/we enter my/our passwords and/or access codes as being authorized by me/us and the Company shall not be held liable for any fraud that may occur based on the Company's decision to act on this authority. I/we acknowledged that the Company will not accept any responsibility for information contained in any other sites which can be accessed by hypertext link from any pages of the /online platform or for these sites not being available at all times. (For further details on any of the Company’s products and services, please read the relevant information on the portal).

Access Code

An Access Code refers to my/our password and username. I/we must protect and keep my/our Access Codes confidential at all times. I/we agree to comply with the terms of the products and services and any other reasonable instructions or recommendations provided by the Company or advised regarding the use and security of the product and services. I/we agree that it is my/our sole responsibility to set up, maintain and regularly review security arrangements concerning access to and use of the products and services on the portal/online platform and information stored on my/our computing and communications systems, and control of passwords, security devices and access to the portal/online platform.

I/we acknowledge that it is not safe to store access codes on my/our computer or on a network. The Company relies on me/us to report any compromise of my/our access codes without delay. I/we may do this by contacting the Company’s Customer Care Centre or nearest office. The Company may ask me/us to verify my/our identity to prevent someone else from impersonating me/us. Once notified, the Access Code is disabled and the Company is authorised to reject any instructions received after such notification until the Access Code is enabled.

One Time Password

A unique and time sensitive Password is used as added security when I/we access our account(s) on the portal/online platform. This Password does not replace the Access Code used to log on to the portal/online platform but provides an additional layer of security. I/ We consent that this Password be sent to me/us via SMS and/or email and is valid for the particular online session only.

Declaration

I/we understand that the information I/we shall give, and all documents provided are the basis for the provision of the products and services I/we apply for.

I/we hereby declare that the stated information is true and correct and that I/we have not withheld any other information which may affect the decision of the Company in the provision of the desired product and services.

I/we hereby confirm my/our understanding of the terms and conditions for the purchase of the desired insurance product and agree to abide by the stated terms and conditions, and regulations as may be communicated to me/us by the Company from time to time.

I/we consent to you carrying out identity and fraud prevention checks and sharing information relating to this application through the Fraud Prevention Service.

I/we would immediately notify the Company of any improvement or changes to my/our circumstances in the course of the service relationship.

I/we further undertake to indemnify the Company for any loss suffered or costs incurred as a result of any false information, documentation or error in the information or documentation provided by me/us to the Company in the connection with the service relationship.

Limitation of liability

The Company, as well as its affiliates, shareholders, employees, consultants, and agents have taken care to ensure that the contents provided on the portal/online platform are accurate, and that I/we suffer no loss or damage as a result of using it. However, the portal/online platform is provided 'as is' and the Company shall not be liable for any damages whatsoever, relating to my/our use of the portal/online platform, products or services. The Company shall in no way be liable for any direct, indirect, incidental, special or consequential loss or damages which might arise from the use of or reliance upon any material or content available on the portal/online platform or any linked portals, even if the Company has been advised of the possibility of such loss, expense, claim or damages. The Company shall not be liable for:

1. Any damages suffered as a result of a compromise of my/our password and / or access codes;
2. Any interruption, malfunction, downtime or other failure of the portal/online platform, third party systems, databases or any component part thereof for whatever reason;
3. Any interruption, malfunction, downtime or other failure of services provided by third parties, including, without limitation, third party systems such as the public switched telecommunication service providers, internet service providers, local authorities and certification authorities;
4. Any event over which it has no direct control. I/we hereby indemnify the Company against all losses, costs, claims or damages which I/we or the Company incurs in respect of any third party activities arising from my/our use of this portal/Online Platform and the unauthorized instructions executed on my/our behalf which were not due to the Company’s negligence.
5. Any loss suffered, or costs incurred by the Company as a result of any false information, documentation or error in the information or documentation provided by me/us to the Company in the connection with the service relationship.

Sanctions

I/we acknowledge that the Company is obliged to comply with the international sanction laws and regulations issued by OFAC, EU, UN, HMT (as well as local laws and regulations). Therefore, I/we agree that the Company reserves the right to terminate this agreement with me/us without liability on its part and it has no obligation to make any payment under, or otherwise to implement this agreement if I/we violate any OFAC, EU, UN and HTM sanctions or there is involvement by any person (natural, corporate or governmental) listed in the OFAC, EU, UN, HMT or local sanctions lists, or any involvement by or nexus with Cuba, Sudan, North Korea, Iran or Myanmar or such other countries as may be included from time to time in the sanctions list, or any of their governmental agencies.

I/we hereby specifically indemnify and hold the Company harmless against any and all liability, losses or damages of whatsoever nature (whether direct, indirect and/or consequential), which I/we may suffer as a result of any and all investments in my/our account being frozen, blocked and/or seized or which I/we may suffer as a result of any claim, demand and action made against it. For avoidance of doubt, I/we waive and renounce all rights, actions or circumstances whatsoever which might constitute a defense. I/we hereby waive any rights which I/we may have or obtain against the Company arising directly or indirectly from any losses or damages of whatsoever nature which I/we may suffer in consequence of contravention of OFAC, EU, UN and HMT sanctions or any law/regulation prohibiting money laundering/financing of terrorism in Nigeria.

For purposes of the above, "OFAC, EU, UN and HMT sanctions mean sanctions imposed from time to time by Office of Foreign Assets Control of the Department of Treasury of the United States of America ("OFAC"), European Union ("EU"), United Nations ("UN") and Her Majesty's Treasury of the United Kingdom ("HMT") relating to, but not limited to entities, parties, shipping lines. Carriers, vessels, multimodal transport operators, freight forwarders, agents at the port of discharge and agents of any related party.

Foreign Account Tax Compliance Act

I/We understand that as part of your obligations in compliance with the United States’ (US) Foreign Account Tax Compliance Act (FATCA), financial institutions and banks, including the Company are required to obtain my/ our tax related information to determine whether my /our account is a US Account, account held by a Recalcitrant Account holder, or Non-Participating Financial Institution or bank.

I/We provide the Company my /our consent to:

1. obtain from me /us such tax related information as is necessary and in the format determined by the Company to determine whether I / we fall within any of the above categories, in which case my /our demographic and transactional data (as determined from time to time by the US Internal Revenue Service (“IRS”)), will be reportable by the Company to the IRS;
2. Disclose my /our information (as referred to in paragraph (a) above) to Withholding Agents if and when required under the FATCA regulations;
3. withhold on any payments of US Source Income received by me /us to the extent not already done by any other Withholding Agent (note that the maximum withholding that may apply to impacted US source income under FATCA is 30%); and
4. close, block or transfer my/our account within 90 days of a request for my/our tax related information (in the format determined by it), being outstanding.

Definitions:

US Account means, an account held by a US citizen, US tax resident, or an account having a substantial US owner that is a Specified US person as defined in FATCA, US treasury regulation§1.1471.
Recalcitrant Account means any account with US indicia that has not provided any requested documentation evidencing the account holder’s FATCA status or classification.
Non-Participating Foreign Financial Institution means any financial institution or bank that has not registered with the IRS to enter into a Foreign Financial Institution Agreement and is not otherwise exempt as a certified-deemed compliant financial institution or bank or exempt beneficial owner.
US Source Income means fixed or determinable annual or periodic income from sources within the US as defined in FATCA, US treasury regulation §1.1473-1(a)(2).
Withholding Agent means a financial institution or bank empowered to withhold US Source Income in terms of an agreement with the US.

Data Consent

1. I/we consent to the Company collecting my/our Personal Information and associated documents from me/us and where lawful and reasonable, from public sources for know-your-customer (KYC), credit, fraud and compliance purposes, as well as the purposes set out below.
2. If I/we give the Company Personal Information about or on behalf of another person (including, but not limited to, account signatories, shareholders, principal executive officers, trustees and beneficiaries), I/we confirm that I/we are authorised to: (a) give the Company the Personal Information; (b) consent on their behalf to the Processing of their Personal Information, specifically any cross-border transfer of Personal Information into and outside the country where the products or services are provided; and (c) receive any privacy notices on their behalf.
3. I/we consent to the Company Processing my/our Personal Information:
   • to provide products and services to me/us in terms of this agreement and any other products and services for which I/we may apply;
   • to carry out statistical and other analyses to identify potential markets and trends, evaluate and improve our business (this includes improving existing and developing new products and services);
   • in countries outside the country where the products or services are provided. These countries may not have the same data protection laws as the country where the products or services are provided. Where the Company can, it will ask the receiving party to agree to its privacy policies;
   • by sharing my/our Personal Information with third-party service providers, locally and outside the country where the products or services are provided. The Company will ask people who provide the services to agree to its privacy policies if they need access to any Personal Information to carry out their services; and
   • within the Standard Bank Group.
4. I/we will find the Company’s Processing practices in the Standard Bank Group’s and its privacy statements. These statements are available on the Standard Bank Group’s portals or on request.
5. If I/we are unsure about my/our tax or legal position because my/our Personal Information is processed in countries other than where I/we live, you should get independent advice.

Marketing and Promotion Consent

I/we hereby consent and agreed , that the Company may use my/our personal or other information to share information with me/us on new products and services that may be of interest to me/us and from time to time will send mail, email or SMS information to me/us on its products and services, or its partners and their products and services. If I/we do not wish to continue receiving this information, I/we may contact the Company and request that my/our information be deleted from the mailing list.

Privacy Statement

If I/we choose to complete any of the on-line forms the personal information I/we provide will be used by the Company to enable it to answer my/our queries and to provide me/us with information about the products and services that are of interest to me/us. It may also be used to monitor the progress of any enquiry and to register any subsequent sale of any of its products or services which I/we have enquired.

The Company may also use such information to update the portal/online platform and keep me/us informed of further product information and site developments if I/we have indicated any such preference.

If I/we have appointed a financial adviser to act on my/our behalf, I/we will make details of my/our intended transaction available to the appointed person and also send copies of correspondence to them where appropriate to enable them give me/us advice. The personal information I/we provide to the Company will be kept confidential. The Company will not sell or transfer the personal information provided to third parties outside the Standard Bank group for the purposes of marketing products or services to me/us. Agents and contractors of the Standard Bank group who are given access to the personal information that I/we provide will be required to keep this information confidential and not to use it for any purpose other than to carry out the services they are providing to the Standard Bank group.

My/our personal data shall not be used or disclosed in any manner incompatible with the purposes for which they are held save that circumstances may arise when the Company is required to disclose this personal information to third parties for purposes other than to support my/our customer relationship with it, such as in a corporate divestiture or dissolution where the Company sells all or a portion of its business or assets (including its associated customer lists containing my/our personal information), or if disclosure is required by law or is pertinent to judicial or governmental investigations or proceedings.

Initiation of Insurance contract

Where I/we engage an insurance agent to assists me/us to complete any application or proposal form for insurance, I/we hereby affirm that such agent shall be deemed to have done so on my/our authorization in accordance with Section 54(2) of the Insurance Act 2003. The liability of the Company in respect of any insurance product I/we subscribe to shall not commence until the application is application is accepted by the Company and I/we have paid the applicable premium in accordance with Section 50 (1) of the Insurance Act 2003.

I/we hereby confirm that I/we are not below 18 years of age and have capacity to enter into a valid insurance contract.

Termination and Amendments

The Company may in its sole discretion terminate, suspend and modify the products, services and this portal/online platform and/or my/our use of this portal/online platform, with or without notice to me/us. I/we agree that the Company will not be liable to me/us in the event that it chooses to suspend, modify or terminate this portal/online platform or my/our use of this portal/online platform. The Company is authorized and regulated by National Insurance Commission as an insurance Company.

By clicking on the 'I AGREE' button or SIGNING THE FORM you shall be deemed to have accepted and agreed to be bound by the terms of this Important Legal Notice.

The terms and conditions stated above shall be governed and construed in accordance with Nigerian Law and I/we agree that any proceedings arising out of or in connection therewith may be brought in the High Court of Justice and I/we irrevocably submit to such Court’s jurisdiction.