The policy issued to BitGo is the first comprehensive coverage issued by a major, global, A-rated underwriter to a bitcoin company. BitGo customers can increase the amount of protection available to them for will obrien bitgo 1 percent annual fee.
It is will obrien bitgo robust cyber and professional liability policy that goes well beyond narrow crime policies previously adopted by some bitcoin vault providers. BitGo customers who opt-in to the program are protected from acts, errors, or omissions of BitGo technology, processes, and employees, including external hacking incidents and employee theft.
Both hot wallets and cold storage are eligible for coverage in the policy. In addition, the policy provides BitGo unprecedented ability to work directly with its customers in the management and resolution of such incidents. Sagalow, a former chief underwriting officer and chief innovation officer at AIG, developed and negotiated this new insurance product with Will obrien bitgo Group. Sagalow is responsible for numerous insurance innovations over his career including cyber-insurance, Y2k insurance, entity coverage, reputation insurance and intellectual property collateral insurance.
Will obrien bitgo the time of this announcement, BitGo offers two major services to its customers: The bitcoin theft insurance provided by XL Group covers the risk of theft or loss of bitcoins secured with both services. For our large enterprise customers, an insurance-backed guarantee is the final missing ingredient for peace of mind in a robust security software offering. BitGo pioneered a technology known as multi-sig inand has continued to set the bar for bitcoin security in the industry with its leading products and published best will obrien bitgo.
Just this month, BitGo launched the first draft of the CryptoCurrency Security Standard in collaboration with C4, a non-profit organization specializing in crypto security certifications. To learn more about BitGo and sign up for a day free trial, visit www. The company offers BitGo Enterprise, an enterprise-grade, multi-sig, multi-user bitcoin wallet, and BitGo Platform API, a robust set of tools and services to access the underlying platform.
XLthrough its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty will obrien bitgo to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world.
XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit www.
Businesses that are moving the world forward choose XL as their partner. To will obrien bitgo more, visit xlgroup. IIG focuses on three core practice groups: Bitcoin Financial Group bitcoinfinancialgroup.
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