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US Insurance Group First to Offer Commercial Bitcoin Coverage

By Sabina Laska, June 8, 2014

A major US insurance company, the Great American Financial Group, has become the first in the sector to offer Bitcoin coverage to commercial and governmental clients.

The company said Monday that its fidelity and crime division is already offering coverage in some US states and pending approval in others, as part of a drive to meet the “evolving needs of customers.”

The group said in a press release:

“Crime insurance coverage for bitcoins can now be granted by endorsement to an existing crime policy for mercantile and governmental customers who accept bitcoin in order to provide coverage for this increasingly popular method of payment, and to tailor coverage to fit the unique needs of the insured.”

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