By accessing and using the services of Arakt (“we”, “us”, or “our”), including our analytics platform for cyber risk, you agree to be bound by these Terms of Service (“Terms”). If you do not agree with these Terms, please refrain from using our website or services.
Our platform provides analytics, risk simulations, and data-driven recommendations designed to support companies in evaluating cyber risk. The platform does not sell insurance directly, nor does it guarantee specific insurance outcomes. Final insurance decisions remain the responsibility of the broker and/or their client.
While our platform is designed to improve cyber risk evaluation and provide insights into optimal insurance strategies, we do not guarantee that the outputs will be error-free, complete, or that they will prevent financial losses. Insurance coverage decisions are inherently uncertain and subject to factors beyond our control. By using our Services, you acknowledge that risks remain, even when relying on our analytics.
Our platform provides simulations and recommendations based on input data and statistical models. It is your responsibility to verify the accuracy of the data insights, interpret the outputs, and decide how to use them in client advisory processes. We are not liable for any financial loss, reputational damage, or client dissatisfaction resulting from reliance on our platform’s outputs.
Our platform may be accessed for free; however, certain simulations require the purchase of quantification credits. Credits are refundable within fifteen (15) days of purchase, provided they have not been used. After this period, or once credits are used, they become non-refundable. It is your responsibility to manage and use your credits within this timeframe.
As a European company, we comply with the General Data Protection Regulation (GDPR) and applicable data protection laws. Any personal or client-related data processed during the use of our platform will be handled in accordance with our Privacy Policy. Users have the right to access, correct, or delete personal data and may exercise these rights by contacting us. Our software may process technical or financial data related to client companies solely for the purpose of providing analytics and ensuring the accuracy of our solutions.
To the fullest extent permitted by law, Arakt will not be liable for any indirect, incidental, or consequential damages arising from your use of our Services, including but not limited to financial loss, errors in insurance selection, client disputes, or loss of business opportunities, except as required by European law. In any case where liability is found, our total liability will not exceed the amount you have paid for the use of the relevant Service in the 12 months prior to the claim.
We reserve the right to restrict access to our Services based on geographical location or applicable laws. Certain features may only be available to customers in specific regions due to technical, legal, or regulatory constraints.
These Terms of Service are governed by and construed in accordance with the laws of Bulgaria, a member of the European Union. Any disputes arising out of or in connection with these Terms will be subject to the exclusive jurisdiction of the courts of Petrich, Blagoevgrad. As a European company, we adhere to all relevant European Union regulations, including those related to data protection, cybersecurity, insurance analytics, and consumer rights.
In the event of a data breach or security incident involving personal data, we will notify the relevant supervisory authorities and affected users in compliance with European Law. We are committed to cooperating fully with regulatory bodies to resolve any security incidents, but we are not liable for losses arising from breaches outside of our control.
We are committed to operating in compliance with European ethical standards and regulatory frameworks. This includes transparency, user rights, and responsible handling of sensitive insurance-related data. We adhere to best practices in data analytics and continuously update our models to meet evolving industry standards.
We reserve the right to modify these Terms of Service at any time. If we make significant changes, we will notify you via email or by posting an updated version on our website. Your continued use of our services after any such modifications signifies your acceptance of the updated Terms.
If you have any questions regarding these Terms of Service, please contact us at:
Thank you for choosing Arakt to support your cyber risk advisory process.