Effective Date: OCT 2025

1. Introduction and Acceptance of Terms

1.1. The Agreement

These Terms and Conditions ("Terms"), together with our Privacy Policy and any specific Insurance Policy Documents, form a legally binding agreement between you ("User," "you," "your") and Lasaco Assurance Plc ("Lasaco," "the Company," "we," "us," "our") governing your access to and use of the Lasaco e-Portal and its associated services.

1.2. Parties

The Company is Lasaco Assurance Plc, a public limited company incorporated in Nigeria (RC 31126), with its head office at Plot 16, Acme Road, Ogba, Ikeja, Lagos, Nigeria. The User is any individual or entity that creates an account on or otherwise accesses or uses the e-Portal.

1.3. Acceptance

By creating an account, logging in, or using any part of the e-Portal, you confirm that you have read, understood, and unconditionally agree to be bound by these Terms. If you do not agree to these Terms, you must not access or use the e-Portal.

 

2. Definitions

• Account: The secure, personalized profile created by a User to access the Services on the

e-Portal

• Company: Lasaco Assurance Plc.

• Content : All information, text, graphics, software, logos, audio, video, and other materials

found on the e-Portal.

 

• e-Portal: The online platform and any associated mobile applications provided by Lasaco

for accessing the Services.

• NAICOM: The National Insurance Commission, the primary regulator of the insurance

industry in Nigeria.

• NDPA: The Nigeria Data Protection Act 2023, and any subsidiary regulations such as the

NDPR 2019.

• Personal Data: Any information relating to an identified or identifiable natural person, as

defined by the NDPA.

• Policy Document: The formal insurance contract issued by Lasaco, detailing the specific

terms, conditions, benefits, and exclusions of an insurance policy.

• Premium: The amount of money paid by the User to Lasaco in consideration for insurance

coverage.

• Services: The functionalities offered through the e-Portal, including but not limited to obtaining

insurance quotes, purchasing policies, paying premiums, managing policies, initiating

claims, and accessing Policy Documents.

 

• User: Any person or entity who accesses or uses the e-Portal.

3. The e-Portal Services

3.1. Scope of Services

The e-Portal is designed to provide Users with convenient access to a range of Lasaco's insurance and financial services products, including Individual Life, General Business, and Investment-Linked products. Services include obtaining quotes, completing proposal forms, uploading required documents, paying premiums, viewing policy information, and initiating the claims process.

3.2. Service Availability and Modifications

The e-Portal and its Services are provided on an "as is" and "as available" basis. While we strive to ensure high availability, we do not guarantee that the e-Portal will be uninterrupted, timely, secure, or error-free. Lasaco reserves the right to modify, suspend, or discontinue any part of the e-Portal or its Services at any time, with or without prior notice. You agree that Lasaco shall not be liable to you or any third party for any modification, suspension, or discontinuance of the Service.

4. User Account Registration and Security Obligations

4.1. Eligibility

To create an Account and use the Services, you must be at least 18 years of age and have the full legal capacity to enter into a binding contract under Nigerian law.

4.2. Accuracy of Information and User Warranty

You warrant that all information you provide during registration and throughout your use of the e-Portal is and will remain accurate, complete, and current. This includes all personal details, contact information, and any information provided in proposal forms or for claims processing. You acknowledge that insurance contracts are based on the principle of utmost good faith (uberrimae fidei). Any material misrepresentation, non-disclosure, or provision of false information may lead to the voiding of your insurance policy, denial of claims, and termination of your Account, in accordance with the Insurance Act 2003 and the terms of your Policy Document.

4.3. Account Security and User Responsibility

You are solely responsible for maintaining the confidentiality and security of your Account password and other login credentials. You must not share your credentials with any third party. You accept full responsibility for all activities that occur under your Account, whether authorized by you or not. Lasaco shall not be liable for any loss or damage arising from your failure to protect your Account credentials.

4.4. Notification of Unauthorized Use

You agree to immediately notify Lasaco Assurance Plc at security@lasacoassurance.com and contact@lasacoassurance.com upon becoming aware of any suspected or actual unauthorized access to or use of your Account or any other breach of security.

4.5. Identity Verification (KYC Compliance)

You agree that Lasaco reserves the right, at any time, to request additional information and documentation to verify your identity. This is to ensure compliance with our regulatory obligations, including Know-Your-Customer (KYC) requirements stipulated by NAICOM and other anti-money laundering laws. Your ability to access certain Services may be dependent on the successful completion of this verification process.

5. Lawful Use and Code of Conduct

5.1. Compliance with Applicable Laws

You agree to use the e-Portal and its Services in strict compliance with all applicable laws and regulations of the Federal Republic of Nigeria, including but not limited to the Insurance Act 2003, the NAICOM Act 1997, and the NDPA 2023.

5.2. Prohibited Activities

You are strictly prohibited from:

a. Using the e-Portal for any fraudulent, unlawful, or malicious purpose.

b. Uploading, posting, or transmitting any content that is defamatory, obscene, abusive, or otherwise

objectionable.

c. Attempting to gain unauthorized access to our systems, networks, or other User Accounts.

d. Introducing viruses, trojan horses, worms, or any other malicious or technologically harmful software.

e. Infringing upon the intellectual property rights of Lasaco or any third party.

f. Engaging in any systematic or automated data collection activities (including scraping, data mining, or

data harvesting) on or in relation to the e-Portal without our express written consent.

 

g. Impersonating any person or entity or falsely stating or otherwise misrepresenting your affiliation

with a person or entity.

5.3. Consequences of Breach

Any breach of this Code of Conduct may result in the immediate suspension or termination of your Account, denial of Services, and, where applicable, reporting to law enforcement authorities. Lasaco reserves the right to pursue any and all available legal remedies.

6. Intellectual Property Rights

6.1. Ownership of Content

All rights, title, and interest in and to the e-Portal and its Content, including but not limited to text, graphics, logos, button icons, images, software, and the compilation thereof, are the exclusive property of Lasaco Assurance Plc or its content suppliers and are protected by Nigerian and international copyright, trademark, and other intellectual property laws.

6.2. Limited License to Users

Lasaco grants you a limited, non-exclusive, non-transferable, and revocable license to access and make personal, non-commercial use of the e-Portal and its Services. This license does not include any right to resell or commercially use the e-Portal or its Contents; to collect or use any product listings or descriptions; to make any derivative use of the e-Portal or its Contents; or to use any data mining, robots, or similar data gathering and extraction tools.

7. Privacy and Data Protection

7.1. Commitment to Data Privacy

Lasaco is firmly committed to protecting the privacy and security of your Personal Data. We conduct our business in accordance with the highest ethical standards and in full compliance with the NDPA and other applicable data protection laws.

7.2. Incorporation of the Lasaco Privacy Policy by Reference

Your use of the e-Portal is also governed by the Lasaco Assurance Plc Privacy Policy, which is available at www.lasacoassurance.com/privacy-policy. The Privacy Policy explains how we collect, use, process, and disclose your Personal Data. By accepting these Terms, you also acknowledge that you have read, understood, and agree to the terms of our Privacy Policy, which is hereby incorporated into this agreement by reference.

7.3. Consent for Communications

By creating an Account, you consent to receive essential transactional and service-related communications from us electronically (e.g., via email, SMS, or notifications on the e-Portal). These communications are necessary for us to provide the Services, and include policy confirmations, premium payment receipts, and claim status updates. For non-essential marketing and promotional communications, we will obtain your separate, explicit consent as outlined in Section 14 of these Terms.

8. Insurance Transactions on the e-Portal

8.1. Nature of Insurance Contracts

The e-Portal is a platform to facilitate the application for and management of insurance contracts. All insurance policies purchased through the e-Portal are separate legal contracts. The coverage provided is subject to the full terms, conditions, warranties, and exclusions detailed in the specific Policy Document issued by Lasaco for that policy. In the event of any conflict between these Terms and a Policy Document, the Policy Document shall prevail.

8.2. "No Premium, No Cover" Principle

In accordance with Section 50(1) of the Insurance Act 2003 and NAICOM regulations, insurance coverage is not effective and Lasaco has no liability under any policy until the applicable premium has been paid in full and has been received by Lasaco Assurance Plc. A policy shall be deemed void if the premium is not paid. You acknowledge that if an electronic payment is unsuccessful, reversed, or charged back, any insurance cover that may have been provisionally indicated is null and void ab initio.

8.3. Electronic Delivery of Policy Documents

You agree to the electronic delivery of your Policy Documents, renewal notices, endorsements, and other official correspondence to your Account on the e-Portal or to the email address you have registered with us. This satisfies the requirement for delivery of policy documents under Section 15 of the Insurance Act 2003.

8.4. Payments and Refunds

All payments for premiums must be made in Nigerian Naira (NGN) through the approved payment gateways available on the e-Portal. Premiums are generally non-refundable once insurance coverage has commenced, except as may be explicitly provided for in your Policy Document or as required by law.

9. Disclaimers and Limitation of Liability

9.1. "As Is" and "As Available" Service Disclaimer

The e-Portal is provided without any warranties or guarantees, express or implied. Lasaco does not warrant that the e-Portal, its servers, or emails sent from Lasaco are free of viruses or other harmful components. You agree that your use of the e-Portal is at your sole risk.

9.2. Disclaimer for Third-Party Links and Content

The e-Portal may contain links to third-party websites or services that are not owned or controlled by Lasaco. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third-party websites or services.

9.3. Limitation of Lasaco's Liability

To the fullest extent permitted by law, Lasaco Assurance Plc, its directors, employees, and agents shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the e-Portal; (ii) any conduct or content of any third party on the e-Portal; and (iii) unauthorized access, use, or alteration of your transmissions or content. Lasaco's liability in connection with any insurance claim shall be determined solely by the terms of the relevant Policy Document.

10. Indemnification

You agree to defend, indemnify, and hold harmless Lasaco Assurance Plc and its directors, officers, employees, and agents from and against any and all claims, damages, obligations, losses, liabilities, costs, or debt, and expenses (including but not limited to attorney's fees) arising from: (i) your use of and access to the e-Portal; (ii) your violation of any term of these Terms; (iii) your provision of inaccurate or false information; or (iv) your violation of any third-party right, including without limitation any copyright, property, or privacy right.

11. Termination and Suspension of Access

11.1. Termination by the User

You may terminate your Account at any time by following the instructions on the e-Portal or by contacting our customer service. Termination of your e-Portal Account does not terminate any active insurance policies you may hold with us.

11.2. Suspension or Termination by Lasaco

Lasaco reserves the right, in its sole discretion, to suspend or terminate your Account and access to the e-Portal without prior notice for any reason, including but not limited to, a breach of these Terms, engagement in fraudulent or illegal activities, or as required by law or a regulatory authority.

12. Governing Law and Dispute Resolution

12.1. Governing Law

These Terms shall be governed and construed in accordance with the laws of the Federal Republic of Nigeria, without regard to its conflict of law provisions.

12.2. Amicable Settlement and Mediation

The parties shall use their best efforts to settle any dispute, controversy, or claim arising out of or relating to these Terms amicably through negotiation. You are encouraged to first submit any complaints to our designated channels. If the dispute is not resolved by negotiation within thirty (30) days, the parties may proceed to mediation before resorting to litigation.

12.3. Jurisdiction

You agree that any legal action or proceeding arising out of or relating to these Terms shall be brought exclusively in the competent courts of the Federal Republic of Nigeria.

 

13. General Provisions

13.1. Amendments to Terms

Lasaco reserves the right to modify or replace these Terms at any time. We will provide at least thirty (30) days' notice before any new terms take effect. Notice may be provided via email or by posting a notification on the e-Portal. By continuing to access or use our e-Portal after those revisions become effective, you agree to be bound by the revised terms.

13.2. Severability

If any provision of these Terms is held to be invalid or unenforceable by a court, the remaining provisions of these Terms will remain in effect.

13.3. No Waiver

Our failure to enforce any right or provision of these Terms will not be considered a waiver of those rights.

13.4. Entire Agreement

These Terms, together with the Privacy Policy and any applicable Policy Documents, constitute the entire agreement between you and Lasaco Assurance Plc regarding the use of the e-Portal, and supersede and replace any prior agreements we might have between us regarding the Service.

13.5. Contact Information

For any questions about these Terms, please contact us at:

Lasaco Assurance Plc

Plot 16, Acme Road, Ogba, Ikeja, Lagos, Nigeria.

Email: legal@lasacoassurance.com or contact@lasacoassurance.com.

 

14. Declaration of Acceptance

By ticking the boxes and creating an Account, you make the following declarations:

I hereby confirm that I have read, understood, and agree to be bound by the Lasaco Assurance Plc e-Portal Terms and Conditions and Privacy Policy.

I hereby confirm that all information I have provided or will provide through this e-Portal is accurate, complete, and true to the best of my knowledge and belief, and I understand that this information forms the basis of any insurance contract.

(Optional) I agree to receive marketing communications, newsletters, and updates about products and services from Lasaco Assurance Plc. I understand that I can unsubscribe from these communications at any time through my Account settings or by using the unsubscribe link in the emails.