Cryptocurrency News9 hours ago (Mar 11, 2020 02:20PM ET)
Retail Crypto Insurance: Protecting Crypto Holdings Becoming Mainstream
Insurance underwriters associated with Lloyd’s of London are now backing a new liability policy designed to protect cryptocurrency stored in online wallets. With a modest minimum of 1,000 British pounds ($1,275) in protected assets and rather flexible terms, the product seems to be geared for retail and corporate investors. But who is behind the novel service, and how will the policy work?
Despite the enthusiasm expressed in early media accounts for “insurance giant Lloyd’s backing crypto,” Lloyd’s of London is not an entity to which any centralized agency can be ascribed. Unlike most other major players in the field, it is not an insurance company, but rather a marketplace where insurance underwriters and brokers meet to assess and pool risks. This corporate body boasts a centuries-long history, with its governance structure codified in the 1871 Lloyd’s Act.
Retail Crypto Insurance: Protecting Crypto Holdings Becoming Mainstream
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.