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IMA, which is one of the largest private and employee-owned brokers in the U.S. with predicted revenues this year of around $500 million, has connections with Lloyd’s syndicates for some of its business lines, said Jacobs. But for now, there are no insurance products directed at things like NFTs, he
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House Financial Services Committee member and New Jersey Representative Josh Gottheimer has introduced legislation that would have the Federal Deposit Insurance Corporation back stablecoins in a manner similar to fiat deposits.In a draft of the Stablecoin Innovation and Protection Act of 2022 released on Tuesday, Gottheimer proposed labeling stablecoins issued
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U.S Representative Josh Gottheimer (D-NJ) has introduced a bill that would establish government-backed insurance for stablecoins, according to a report by Politico. Original Source
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Veteran investor and fund manager Bill Miller says he has “a very big position” in bitcoin and expects to see a lot of institutional adoption this year, particularly among endowments and foundations. “Bitcoin is insurance against financial catastrophe,” he opined. Bill Miller Says ‘Bitcoin Is Insurance Against Financial Catastrophe’ Famed value investor
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“Our approval of Evertas’ coverholder application is an example of collaboration between Lloyd’s insurer Arch and their new distribution partner on an innovative solution aimed at facilitating the growth of an industry sector previously hindered by a lack of risk transfer options,” said Hank Watkins, president of Lloyd’s in the
Read MoreIn February 2019, the Information Commissioner imposed a monetary penalty notice against Somerset Bridge Insurance Services Limited (formerly, and at the relevant time, Eldon Insurance Services Limited) in the sum of £60,000 for a breach of the Privacy
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Binance, the world’s leading crypto exchange by trading volume, announced its Secure Asset Fund for Users (SAFU) reached a $1 billion valuation.The user protection insurance fund was set up in July 2018 to protect users’ interests. Binance committed a portion of the trading fee towards SAFU and began allocating 10%
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Blockchain oracle services firm Chainlink has added U.S. meteorology forecasting provider AccuWeather to further bolster its suite of real-world data feeds.Back in August of this year, Chainlink, which allows data providers to port data into the digital agreements that run on top of blockchains, announced it was incorporating weather data
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In Uno Re’s effort to bring safety to the broader crypto community, the protocol has recently announced that their long-term strategic partner, Nord Finance, has increased its coverage from $500,000 to $1,500,000. This decision was taken to further enhance the safety of the protocol and the users on the platform against
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Onedegree, a virtual insurer based in Hong Kong, will provide insurance services for digital assets as part of a partnership with a local cryptocurrency exchange. By working together, the two firms hope to alleviate concerns discouraging potential investors from entering the crypto market. Onedegree to Underwrite Insurance Policies for Crypto
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