Terms of Service

Cova AI Pty Ltd
Effective Date: 22 September 2025  •  Last Updated: 17 March 2026

1. Agreement to Terms

By accessing or using Cova AI Pty Ltd's AI-powered insurance broker software ("Service"), you agree to be bound by these Terms of Service ("Terms"). If you disagree with any part of these Terms, you must not use the Service.

The Service is intended solely for licensed insurance brokers and insurance professionals in Australia, the United Kingdom, and New Zealand. By using the Service, you represent that you are a qualified insurance professional in your jurisdiction.

2. Important Disclaimers

2.1 Service is a Copilot Tool Only

This Service is an assistive tool designed to support — not replace — your professional judgment and expertise as a licensed insurance broker. You must:

• Review and verify all AI-generated content before use
• Apply your professional knowledge and experience to all outputs
• Never send AI-generated content verbatim to clients
• Maintain full responsibility for all client communications and advice

2.2 No Reliance on This Service For

• Professional insurance advice
• Regulatory compliance determinations
• Client-specific recommendations
• Legal or financial guidance
• Risk assessments or underwriting decisions

All outputs must be independently verified and adapted to specific client circumstances.

2.3 Not a Substitute for Professional Judgment

The Service cannot and does not:

• Replace human expertise and judgment
• Account for all individual client circumstances
• Provide definitive answers to complex insurance matters
• Guarantee accuracy or completeness of information
• Ensure regulatory compliance

3. Professional Obligations and Standards

3.1 Maintenance of Professional Standards

By using this Service, you acknowledge and agree that you must:

• Maintain the highest standards of professional conduct
• Comply with all applicable laws and regulations
• Adhere to the applicable industry code of practice (NIBA, BIBA, or IBANZ)
• Maintain appropriate professional indemnity insurance
• Exercise independent professional judgment
• Provide advice appropriate to each client's specific needs

3.2 Industry Code of Practice Compliance

Users must continue to observe the applicable industry code of practice — NIBA (Australia), BIBA (United Kingdom), or IBANZ (New Zealand) — including but not limited to:

• Acting honestly, fairly, and professionally
• Avoiding conflicts of interest
• Maintaining client confidentiality
• Providing advice appropriate to client needs
• Maintaining competence through ongoing professional development
• Keeping accurate records

3.3 Regulatory Compliance

You remain solely responsible for compliance with all applicable laws and regulations in your jurisdiction, including but not limited to:

Australia:

• The Corporations Act 2001 (Cth)
• ASIC regulatory guides and requirements
• Australian Financial Services (AFS) licensing conditions
• Privacy Act 1988 (Cth)
• Anti-Money Laundering and Counter-Terrorism Financing Act 2006

United Kingdom:

• Financial Services and Markets Act 2000
• FCA rules and regulatory requirements
• Insurance Distribution Directive (IDD)
• UK GDPR and Data Protection Act 2018
• Money Laundering Regulations 2017

New Zealand:

• Financial Markets Conduct Act 2013
• Financial Markets Authority (FMA) requirements
• Financial Advice licensing conditions
• Privacy Act 2020
• Anti-Money Laundering and Countering Financing of Terrorism Act 2009

And all other applicable insurance laws and regulations in your jurisdiction.

4. Acceptable Use Policy

4.1 Permitted Use

The Service may be used for:

• Generating draft correspondence (subject to review and editing before sending)
• Research and information gathering
• General insurance knowledge queries
• Workflow assistance and productivity enhancement
• Training and professional development support
• Preliminary analysis and documentation

4.2 Prohibited Use

You must NOT:

• Enter any client personally identifiable information (PII) into the Service
• Use outputs without independent review and modification
• Rely on the Service for final professional decisions
• Copy and paste AI-generated responses directly to clients
• Use the Service to replace required professional processes
• Attempt to circumvent your professional obligations
• Share login credentials or allow unauthorised access
• Use the Service for any unlawful purpose
• Attempt to reverse engineer or copy the Service
• Violate any third-party rights

4.3 Content Guidelines

When using the Service:

• Use placeholder names and hypothetical scenarios only
• Anonymise all case details
• Never include real client names, addresses, or identifying information
• Focus on general insurance concepts and products
• Ensure all queries maintain client confidentiality

5. Accuracy and Limitations

5.1 No Warranty of Accuracy

The Service is provided "AS IS" without warranties of any kind. We do not guarantee:

• Accuracy, completeness, or timeliness of information
• Suitability for any particular purpose
• Compliance with current regulations or laws
• Error-free or uninterrupted operation

5.2 Information Currency

• Insurance laws and regulations change frequently
• Product information may become outdated
• You must verify all information against current sources
• Always check effective dates and applicability

5.3 AI Limitations

You acknowledge that AI systems:

• May produce incorrect or misleading information
• Cannot understand full context like a human professional
• May exhibit biases or gaps in knowledge
• Require human oversight and validation
• Should never be the sole basis for professional advice

6. User Responsibilities

6.1 Professional Verification

You are responsible for:

• Verifying all AI-generated content
• Ensuring advice suits specific client needs
• Maintaining professional scepticism
• Cross-referencing with authoritative sources
• Documenting your review and modifications

6.2 Client Communications

When communicating with clients:

• Never send AI-generated content without thorough review
• Adapt all content to the client's specific circumstances
• Ensure tone and content are appropriate
• Maintain your professional voice and expertise
• Take full responsibility for all communications

6.3 Record Keeping

You must maintain appropriate records demonstrating:

• Your review and modification of AI outputs
• Professional judgment applied
• Compliance with regulatory requirements
• Client-specific considerations addressed

7. Intellectual Property

7.1 Service Ownership

Cova AI Pty Ltd retains all rights to:

• The Service and its underlying technology
• AI models and algorithms
• User interface and design
• Documentation and training materials

7.2 Your Content

You retain ownership of:

• Your input queries (excluding any client PII)
• Your modifications to AI-generated content
• Your professional work product

7.3 Licence to Use

We grant you a limited, non-exclusive, non-transferable licence to use the Service in accordance with these Terms.

8. Privacy and Data Protection

8.1 No Client PII

You agree to:

• Never enter client personal information into the Service
• Use only anonymised or hypothetical scenarios
• Maintain client confidentiality at all times
• Comply with all privacy laws and obligations

8.2 Data Processing

Our data handling is governed by our Privacy Policy. By using the Service, you acknowledge that:

• We use Anthropic's Claude AI for processing
• Queries may be logged for improvement and compliance purposes
• No client data should be processed through the system

9. Indemnification and Liability

9.1 Your Indemnification

You agree to indemnify and hold harmless Cova AI Pty Ltd from any claims arising from:

• Your use of the Service
• Your professional services to clients
• Any breach of these Terms
• Entry of client PII contrary to our guidelines
• Reliance on unverified AI outputs
• Violation of professional standards or regulations

9.2 Limitation of Liability

To the maximum extent permitted by law:

• We are not liable for any professional liability claims
• We are not liable for indirect, consequential, or special damages
• Our total liability is limited to the fees paid in the preceding 12 months
• We are not liable for your failure to verify information

9.3 Professional Liability

You acknowledge that:

• You maintain sole professional liability for client advice
• Your professional indemnity insurance must cover your use of AI tools
• We are not a party to your client relationships
• We assume no duty of care to your clients

10. Subscription and Payment

10.1 Subscription Terms

• Subscriptions are billed monthly or annually
• Payment is due in advance
• Prices may change with reasonable notice
• No refunds are provided for partial periods

10.2 Account Suspension

We may suspend or terminate your account for:

• Non-payment
• Breach of these Terms
• Misuse of the Service
• Entry of client PII
• Professional misconduct

11. Disclaimers

11.1 No Professional Advice

The Service does not provide:

• Legal advice
• Financial advice
• Tax advice
• Regulatory compliance advice
• Client-specific recommendations

11.2 No Endorsement

References to insurance products, companies, or services do not constitute endorsement or recommendation.

11.3 Third-Party Content

We are not responsible for third-party content, products, or services mentioned in the Service.

12. Termination

12.1 Your Termination Rights

You may terminate your account at any time by:

• Providing written notice
• Ceasing use of the Service
• Requesting account deletion

12.2 Our Termination Rights

We may terminate or suspend access immediately for:

• Breach of these Terms
• Illegal or unethical use
• Non-payment
• Risk to the Service or other users

12.3 Effect of Termination

Upon termination:

• Access to the Service ceases immediately
• No refund is provided for any unused subscription period
• Data will be deleted per our Privacy Policy
• Ongoing obligations under these Terms survive termination

13. Changes to Terms

We may modify these Terms at any time. Changes will be notified via:

• Email to registered users
• In-Service notifications
• Website announcements

Continued use of the Service after changes are notified constitutes acceptance of the updated Terms.

14. Governing Law and Disputes

14.1 Governing Law

These Terms are governed by the laws of the jurisdiction in which your Cova account is registered: Queensland, Australia for Australian users; England and Wales for UK users; or New Zealand for New Zealand users.

14.2 Dispute Resolution

Disputes will be resolved through the following process:

1. Good faith negotiation between the parties
2. Mediation (if negotiation fails)
3. The courts of the applicable governing jurisdiction (if mediation fails)

15. General Provisions

15.1 Entire Agreement

These Terms constitute the entire agreement between you and Cova AI Pty Ltd.

15.2 Severability

If any provision is found to be unenforceable, the remaining provisions continue in full force and effect.

15.3 Waiver

No waiver of any provision is effective unless made in writing.

15.4 Assignment

You may not assign these Terms without our prior written consent.

16. Contact Information

For questions about these Terms, please contact:

17. Acknowledgment

By using this Service, you confirm that you have read, understood, and agree to be bound by these Terms of Service. You acknowledge that:

• You have read and understood these Terms
• The Service is a copilot tool only and does not replace professional judgment
• You must not rely solely on AI outputs
• You must maintain your professional standards at all times
• You must comply with the applicable industry code of practice (NIBA, BIBA, or IBANZ)
• You remain fully responsible for all client advice
• You must never send AI-generated content verbatim to clients
• You must verify all information independently
• You accept all risks associated with the use of AI assistance