Coincover launches cryptocurrency protection to prevent theft and loss
This news report raises several questions.
There is no mention of whether the whole of the customer's funds are covered or only a partial amount is covered.
It says Coincover provides "Anti-Theft Guarantee", when in fact what it means is that if a theft does occur, it is covered by insurance.
That raises the next question: Insurance policies are not guarantees. In other words, the insurance company can and do rejects claims based on any grounds available to it. For instance it could reject a claim on the ground that Coincover breached a policy condition. If that happens, are the customers' funds still covered?
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