The Japanese insurer has announced a new product line providing coverage for domestic cryptocurrency. Mitsui Sumitomo, an insurer from Japan, has announced the launch of a line of Bitcoin insurance products. The goal is to provide coverage for the domestic cryptocurrency market. These types of digital currency are providing new opportunities for markets and conventional businesses in the country. The insurance industry has been seeing a considerable boost in demand as a result of Bitcoin-like currencies. Mitsui Sumitomo clearly intends to ensure it will not miss opportunities in these areas.…
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Bitcoin companies are beginning to rely on the insurance industry
Insurance industry is playing a larger role in the world of digital currencies Lloyd’s of London has released a new report that highlights the risks associated with digital currency, particularly Bitcoin. These currencies are becoming more common throughout the world, being used to purchase products online. In the case of Bitcoin, volatility is a very serious concern, as the value of a single Bitcoin fluctuates wildly on a regular basis. The report from Lloyd’s of London is meant to shed some insight on the risks associated with insuring businesses based…
Read MoreInsurance news made as Coinbase takes out Bitcoin policy
The company has now purchased protection through Aon to cover digital currency from theft and loss. Coinbase, a provider of bitcoin merchant and wallet services, is now making insurance news as it has taken out a policy to be able to cover the digital currency against the threat of loss and theft. The company is seeking to use the insurance policy to protect itself against cyber attacks and hacks. According to a blog post from the company, “Coinbase is insured against theft and hacking in an amount that exceeds the…
Read MoreBitcoin insurance now available to businesses
Up to $5 billion in coverage is now being offered by a provider to protect companies. Companies that have been hoping to be able to open up to new types of currency and payments opportunities but who would also like to minimize the risk connected with doing so will now be able to obtain Bitcoin insurance from another provider, as Great American Insurance Group has announced that it is offering this type of protection. This virtual currency has been creating quite a stir but is maintaining its growth in adoption.…
Read MoreBitcoin insurance may provided much needed security to holders of digital currency
Insurance coverage for Bitcoin is gaining more attention Despite its volatility, Bitcoin continues to grow as an attractive currency for those that are becoming more involved in the digital world. As the digital currency gains more momentum, the need to provide it with some form of security becoming greater. Bitcoin insurance is beginning to gain popularity among firms that deal in the digital currency. The benefits of insurance protection have recently been highlighted due to the shutdown of two major Bitcoin firms due to hacking and other problems. Firm launches…
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