Post
Topic
Board Announcements (Altcoins)
Re: [PRE-ANN] INCHAIN. Ethereum based insurance platform
by
Kazadar
on 15/09/2016, 12:44:04 UTC
Are insured only private purses and accounts, or the entire company as a whole?

Yes, good question. I want to know the same. If i ensure my account on any exchange, how it can affect on my relations with exchange?

You insure your account only. it does not matter what happened with the exchange platform or managing company, you would be reimbursed either way.
Also Inchain does not check your balance at the time of the hack, so you receive the amount stated in your policy.
Exchange platform or campany can be insured? Or just private persons?
As its using smart contracts, I am sure it wont know if the owner of a policy is a company or a private person. But as I understand it, Inchain will only insure funds held at an exchange. Later they wanted to expand on the platfroms they insure.

Insurring an entire exchange will most likely be impossible (at least for now) as it would require huge amounts of eth and btc.