In the first of a 3-part series, Mr. Sagalow looks at Bitcoins, the peer-to-peer payment system that uses open-source software. Recently, Great American Insurance introduced a new fidelity insurance policy for Bitcoin theft.  According to Ty “…the market is still evaluating the policy…its terms and conditions as well as which companies are eligible to purchase […]

In this second part of the Bitcoin series, Ty Sagalow explains the growing legitimacy of Bitcoins, and risks associated with the peer-to-peer payment system. There are approximately $8 billion dollars of Bitcoins around the world, says Ty, used to buy a growing number if online products and services. He questions whether holding and storing Bitcoins has risk and what it means for the insurance industry. Mr. Sagalow sees three […]