IOUBroker one of the best forex brokers in the forex industry has announced a partnership agreement with FINS Insurance Company one of the top best insurance companies in the insurance industry. With this partnership, the IOUBroker team will now join forces with the FINS Insurance team to provide insurance protection for digital assets against theft, hacks, or losses resulting from network security, data privacy, and system failure events.
This is a bold step to ensure that our customers are provided peace of mind bearing in mind that their investment is secured even when unprecedented losses occur. If your wallet is hacked, your private key is stolen, or you suffer any form of loss that did not arise from investment or trading losses, FINS Insurance will take the necessary steps to distribute insurance recoveries to all clients who have been affected. In an event where the total losses suffered exceed the insurance recoveries, FINS Insurance will still not hold back on the legal obligations outlined in the customer agreement.
In a statement by Hermanni Karl Anton, Managing Director FINS Insurance Company, he said “if we analyze the risks that are generally involved with the generation and storage of digital assets, you’d know that it is not just the way sensitive material is stored, but a complete and detailed understanding of the entire life cycle of the private keys,”
He continued: “when there is a bridge at any stage, it could cause digital assets and financial loss for our clients; this is why our paramount underwriting concern is to secure generation, transfer, and storage of knowledge, not simply the possession of data. The importance of this distinction cannot be overestimated and our insurance policy wording was very deliberately constructed to manage this risk.”
Steven Craig Member of the Managing Board of IOUBroker also released a statement saying “we want to welcome onboard our new partners FINS Insurance company, we will work together to ensure we provide investors security against any form of digital assets or financial losses.”
What The FINS Insurance Will Provide
The insurance coverage that FINS provides will offer protection against the theft of digital assets from its hot wallet. Customer funds stored online are insured against a security breach, hack, fraudulent transfer, or employee theft. However, the coverage does not apply in a situation where the user or customers lose their keys or login credentials due to carelessness.
The Insurance will basically provide:
- Coverage for third-party hacks, copying, or theft of private keys
- Coverage for internal theft by company employees or executives
- Coverage for loss of keys
About FINS Insurance Company
FINS Insurance is the world’s leading insurance company and the largest online marketplace for digital assets and business insurance. They are not just the best by word of mouth but are also backed by actions having our 30,000 active customers from more than 200 countries and with complete license to transact Life and Non-Life Insurance businesses. The company is located in Finland and was incorporated in 1993 as a Financial Insurance Company; the company was re-launched as Finsurance Oy in 2013.
They specialize specifically in the provision of Investment insurance, Motor insurance, Travel Insurance, Home Insurance, Marine Protection, life insurance including Whole of Life, Critical Illness, and international Private Medical Insurance. These covers are available for expatriates, individuals, and corporate groups worldwide.
Aside from providing investors with insurance coverage, FINS Insurance also performs other functions like managing investment portfolios across asset classes with a focus on generating income, also delivering a range of retail products.
They help our investors mitigate risks and manage all losses that world ordinarily leaves a lasting dent on your portfolio. IOUBroker has always had the interest of investors at heart and we poised to help our customers profit from their investments even when the market is against you. This is why our team works tirelessly to provide you all you need to succeed as an investor.
IOUBroker is one of the most successful brands in the forex industry and we specialize in leveraged trading, giving you the potential to generate financial returns on both rising and falling prices across FX, indices, commodities, and shares. We provide Investors access to over 2,000 different financial assets which include stocks, cryptocurrencies, ETFs, indices, currencies, and commodities.
At IOU Broker we believe in empowering traders to claim their financial edge and helping them make a profit by providing them with all the support and equipment they need to navigate the market better.
We also ensure that our clients operate safely and calmly while also ensuring we constantly add new offerings that will initiate a better and more diverse investment experience accessible from different parts of the world across the different devices.