28 Jun '15, 8am

How Can Bitcoin Businesses Bridge the Gap With Insurers?

Charles A Cowan is counsel in the Insurance Practice Team within the Corporate & Securities Practice Group at Drinker Biddle & Reath. He previously managed a team responsible for the investigation of internal and external financial crime and regulatory non-compliance at Lloyd’s of London. In this article he discusses the risks that influence an insurer's decision to work with companies in bitcoin, and how they might be overcome. In 1904, Lloyd’s of London was still largely a marine market. And so, when approached in that year to issue the world’s first automobile policy, underwriters did so while describing the car as a "ship navigating on land". Just as in 1904, insurance and innovation have often been inextricably – if, at times, awkwardly – interlinked. Those who invest time, energy and financial resources into developing and distributing an innovative product or proces...

Full article: http://www.coindesk.com/how-bitcoin-businesses-bridge-gap...

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