Quote from: Reinsurer on November 28, 2018, 02:55:43 PM

Everyone knows that from a legal point of view there re a lot of questions bout the majority of projects in the crypto industry. U also face strict insurance regulations on top of that. What legal issues did u have to solve?

Well, quite good question.

So our platform is backed by a clear legal entity Swiss insurance broker ASPIS SA. Finding a suitable insurance company was one of our main goals. The traditional insurance market is very tightly regulated by local authorities in different countries. This includes licensing, extremely tough requirements for the storing of reserves, insurance rates, reporting and much more. As a result, there are very few companies who are both legally able and willing, because of the inadequate legislation among other things, to form reserves, and receive and make payments in cryptocurrency. But we found such a company Selecta Insurance and Reinsurance Company (Caribbean) Limited, who is able to perform all of the above operations using cryptocurrency according to local legislation. Additionally, our insurer is interested in developing new insurance products for new markets.