Modern crypto exchanges often have audited financials, chief compliance officers, and seek out regulators without hesitation. Will insurance be the next step?
Insurance News
Insurance is a procedure of making individuals financially protected against losses occuring in the event of some damaging accident. Most insurance policies for individuals are homeowners, health, auto and life insurance. There are also insurance policies for businesses and financial institutions against specific types of risks that are inherent in the industry. Insurance is an important institute for the modern world that helps people be more willing to take risks in business by giving them the assurance of protection from various events in daily life. Different technologies may be used to improve the current state of this procedure. Blockchain-based insurance may help validate contracts and blockchain insurance startups are working on smart-contracts for forcing the execution of it’s terms. The blockchain insurance industry is a rapidly-growing segment of the fintech industry and is gathering a lot of attention from investors.
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Gemini cryptocurrency exchange, founded by the Winklevoss twins, has formed its own insurance company to insure its custody arm for $200 million.
- Follow up
With Anthem announcing their blockchain project, the technology’s mainstream acceptance continues to increase.
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The International Blockchain Monetary Reserve and blockchain firm Algorand are jointly launching a microfinance platform and a dedicated token.
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The U.S. Federal Emergency Management Agency is investigating a blockchain-based property registry to streamline disaster insurance payouts.
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by Helen Partz
China’s Zhejiang province processed $5.9 billion via a blockchain medical billing platform using Ant Financial’s blockchain tech.
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Ledger Vault, the custody arm of hardware wallet manufacturer Ledger, has procured a crime insurance policy that covers digital assets.
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Crypto exchange Coinbase, custodian Kingdom Trust and investment firm Regal Assets have jointly begun offering crypto IRA and 401(K) accounts in the United Stat...
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by Joeri Cant
Charity organization Oxfam announced the success of its blockchain-based delivery system of microinsurance to farmers in Sri Lanka.
- Analysis
As cyber security becomes prevalent in the crypto space, can major insurance companies provide users with a much-needed safety net?
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Major insurance broking and risk management firm Marsh has piloted a blockchain-based digital placement platform.
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Montreal-based digital asset custodian Knøx has secured $8.25 million in a seed round to roll out a crypto custody service for institutional customers and fiduc...
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A cryptocurrency insurance policy covering theft and loss has been launched by Cardiff-based crypto-insurance startup Coincover.
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The cryptocurrency insurance market is expected to outpace cybersecurity insurance, with giants like Lloyd’s of London and Aon among potential major players.
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