This is good news for development and security of bitcoin
Its huge news, as long as they will pay out this insurance, because insurance companies doing everything to not paying up when they should be. Thats their business model :/.
Topic: Bitcoin Exchanges at Japan Get be Insured - page 2. (Read 1038 times)
Thats their business model :/.
Japanese Bitcoin exchanges and their customers will soon be covered for the first time through a Tokyo product launched on the basis of insurance company Mitsui Sumitomo Insurance.
As reported by the regional Nikkei publication, coverage will be offered against damage and loss of violation or hacks, ranging from ¥ 10 billion to 1 yen (between $ 88,000 and $ 8.8 million) carried. Especially the coverage also includes corporate casualty losses and employee internal errors, a BitPay clause certainly prefer following a theft of 5,000 Bitcoins in 2015 as a result of a phishing attack. The company Bitcoin payments was arguing with its insurance company which refused to lose anything to cover less than 1 million as a result of the theft.
In addition, the insurer will pay for the cost as a result of an incident such as communicating with clients in the scenario of a break or facing damages that are applied to other countries.
This is good news for development and security of bitcoin and will affect positively for user to have such insurance, but I didn't get it about the range of losses from 10 billion to 1 yen, and BitPay following hackers attacked in 2015 and then bitcoin payment arguing to refused to cover less than 1 Million. I mean if the insurance company stated to covered losses between those range (10 B to 1 yen) why less than 1 Million not include, I'm sorry not following correctly but could you mention link of the news, so we can fully understand this.As reported by the regional Nikkei publication, coverage will be offered against damage and loss of violation or hacks, ranging from ¥ 10 billion to 1 yen (between $ 88,000 and $ 8.8 million) carried. Especially the coverage also includes corporate casualty losses and employee internal errors, a BitPay clause certainly prefer following a theft of 5,000 Bitcoins in 2015 as a result of a phishing attack. The company Bitcoin payments was arguing with its insurance company which refused to lose anything to cover less than 1 million as a result of the theft.
In addition, the insurer will pay for the cost as a result of an incident such as communicating with clients in the scenario of a break or facing damages that are applied to other countries.
Japanese Bitcoin exchanges and their customers will soon be covered for the first time through a Tokyo product launched on the basis of insurance company Mitsui Sumitomo Insurance.
As reported by the regional Nikkei publication, coverage will be offered against damage and loss of violation or hacks, ranging from ¥ 10 billion to 1 yen (between $ 88,000 and $ 8.8 million) carried. Especially the coverage also includes corporate casualty losses and employee internal errors, a BitPay clause certainly prefer following a theft of 5,000 Bitcoins in 2015 as a result of a phishing attack. The company Bitcoin payments was arguing with its insurance company which refused to lose anything to cover less than 1 million as a result of the theft.
In addition, the insurer will pay for the cost as a result of an incident such as communicating with clients in the scenario of a break or facing damages that are applied to other countries.
This is good news for development and security of bitcoin and will affect positively for user to have such insurance, but I didn't get it about the range of losses from 10 billion to 1 yen, and BitPay following hackers attacked in 2015 and then bitcoin payment arguing to refused to cover less than 1 Million. I mean if the insurance company stated to covered losses between those range (10 B to 1 yen) why less than 1 Million not include, I'm sorry not following correctly but could you mention link of the news, so we can fully understand this. As reported by the regional Nikkei publication, coverage will be offered against damage and loss of violation or hacks, ranging from ¥ 10 billion to 1 yen (between $ 88,000 and $ 8.8 million) carried. Especially the coverage also includes corporate casualty losses and employee internal errors, a BitPay clause certainly prefer following a theft of 5,000 Bitcoins in 2015 as a result of a phishing attack. The company Bitcoin payments was arguing with its insurance company which refused to lose anything to cover less than 1 million as a result of the theft.
In addition, the insurer will pay for the cost as a result of an incident such as communicating with clients in the scenario of a break or facing damages that are applied to other countries.
Japanese Bitcoin exchanges and their customers will soon be covered for the first time through a Tokyo product launched on the basis of insurance company Mitsui Sumitomo Insurance.
As reported by the regional Nikkei publication, coverage will be offered against damage and loss of violation or hacks, ranging from ¥ 10 billion to 1 yen (between $ 88,000 and $ 8.8 million) carried. Especially the coverage also includes corporate casualty losses and employee internal errors, a BitPay clause certainly prefer following a theft of 5,000 Bitcoins in 2015 as a result of a phishing attack. The company Bitcoin payments was arguing with its insurance company which refused to lose anything to cover less than 1 million as a result of the theft.
In addition, the insurer will pay for the cost as a result of an incident such as communicating with clients in the scenario of a break or facing damages that are applied to other countries.
As reported by the regional Nikkei publication, coverage will be offered against damage and loss of violation or hacks, ranging from ¥ 10 billion to 1 yen (between $ 88,000 and $ 8.8 million) carried. Especially the coverage also includes corporate casualty losses and employee internal errors, a BitPay clause certainly prefer following a theft of 5,000 Bitcoins in 2015 as a result of a phishing attack. The company Bitcoin payments was arguing with its insurance company which refused to lose anything to cover less than 1 million as a result of the theft.
In addition, the insurer will pay for the cost as a result of an incident such as communicating with clients in the scenario of a break or facing damages that are applied to other countries.
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