Lately there is less news about the theft of cryptocurrency. It might be how actively developed the business of insurance cryptocurrency assets.
If you put your cryptocurrency exchange, can you be confident in the safety of their funds? To give you a guarantee, many sites have begun to seek the services of insurers.
So, Coinbase and Gemini joined the American insurance the Federal Corporation on insurance of contributions (FDIC), which provides for cash compensation in the amount of 250 thousand dollars to each customer in case of termination of the crypto currency exchange. It should be noted that this program protects only means US residents and does not apply to holders of “hot” wallets.
In June, one of the largest insurance broker Aon has created a group of European insurers, to protect users from the risks of hot and cold wallets of the company Metaco that specializiruetsya on the preservation of digital assets. According to representatives of Aon, they cover damages from almost anything: from natural disasters and damage to cold storage to hacks of online wallets.
At Aon, which, according to its own data, occupies more than 50% of the market cryptostegiae, simplified the form of application to speed up the conclusion of the contract. Also the company reported that some insurers include the protection of cryptocurrency risks in the General insurance program.
Well-known names and such insurers in the cryptocurrency industry, such as Marsh & McLennan, Chubb, XL and Lloyd’s of London.
A popular insurer of cryptocurrency in Russia — company Cryptoins.io. However, she works throughout the country under the license of a foreign insurer. The user may insure the company for any cryptocurrency that is stored on certain exchanges. If the exchange’s problems and the investor can not withdraw money with the platform within 30 days then the company will reimburse losses.
It should be noted that the overall situation is far from ideal — many young startups are still unable to afford health insurance due to the high cost, the coordination of the policy can take several months, and in the process of exclusions from insurance coverage is becoming more. For example, losses from the termination of service may be deemed to be insured, and theft that caused the disconnection of service, no.
Insurance remains the most widespread service in the cryptocurrency market, but its development is inevitable Despite regulatory uncertainty, to ban cryptocurrencies everywhere unlikely and, therefore, the demand for preservation of digital assets will grow.
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