⛑️Insurance

This Insurance Policy outlines the terms and conditions under which Capital Lending provides insurance coverage for up to the equivalent of 100,000 USD to protect against potential losses and liabilities arising from lending activities conducted on our platform. Insurance Policies will be drawn out between Capital Lending and its borrowers on a case by case basis.

Coverage Limit:

Capital Lending provides insurance coverage for up to the equivalent of 100,000 USD per borrower or transaction to protect against default, fraud, and other risks associated with lending activities conducted on our platform.

Covered Risks:

Default: Insurance coverage extends to losses incurred due to borrower default, encompassing failure to repay loans according to the agreed-upon terms. Additionally, our policy ensures coverage for the collateral provided for the loan (if applicable), safeguarding against any potential loss in value. Fraud: Insurance coverage protects against losses resulting from fraudulent activities, such as identity theft, or impersonation, or misrepresentation of information by borrowers. Operational Risks: Insurance coverage may also apply to losses arising from operational risks, such as system failures, errors, or omissions that result in financial harm to borrowers.

Exclusions:

Intentional Misconduct: Insurance coverage does not apply to losses resulting from intentional misconduct or illegal activities by borrowers, lenders, or platform operators. Force Majeure Events: Insurance coverage may be limited or excluded for losses caused by force majeure events, such as natural disasters, acts of war, or government actions beyond our control. Cybersecurity Incidents: Insurance coverage for cybersecurity incidents, such as data breaches or cyberattacks, may be subject to separate cybersecurity insurance policies.

Claim Process:

Notification: In the event of a covered loss, borrowers must notify Capital Lending of the loss promptly and provide all necessary documentation and evidence to support the claim. Assessment: Capital Lending will assess the validity of the claim and determine the extent of coverage based on the terms and conditions of the insurance policy. Settlement: If the claim is approved, Capital Lending will work to facilitate the settlement of the claim and compensate the affected parties for their losses.

Premiums and Deductibles:

Premiums: Borrowers may be required to pay premiums to obtain insurance coverage, which may be calculated based on factors such as loan amount, loan term, borrower risk profile, collateral, and market conditions. Deductibles: Insurance coverage may be subject to deductibles, which represent the amount that borrowers are responsible for covering before insurance benefits are paid out.

Policy Terms and Renewal:

Policy Terms: This insurance policy is subject to the terms, conditions, and exclusions outlined in the insurance contract between Capital Lending and the insured Renewal: Capital Lending may renew or renegotiate insurance coverage periodically to ensure continued protection against evolving risks and market conditions.

By utilizing Capital Lending's lending platform, borrowers acknowledge and agree to the terms of this Insurance Policy and understand that insurance coverage may be subject to certain limitations, exclusions, and deductibles.