AXA XL Develops Insurance for Hoyos to Launch World's Most Secure Digital "Hot" Wallet

AXA XL Develops Insurance for Hoyos to Launch World’s Most Secure Digital “Hot” Wallet

 

ZURICH and NEW YORK, Sept. 12, 2019 /PRNewswire/ — AXA XL , the Property & Casualty and Specialty Risk division of AXA, has developed an innovative insurance solution for Hoyos Integrity Corporation (Hoyos) to launch the world’s most secure digital "Hot" wallet.

In doing so, AXA XL has designed a bespoke contractual liability insurance coverage specifically tailored for, and in collaboration with Hoyos, a company that specializes in unique biometrically secured products and applications, including secure digital asset services.

Hoyos provides its users with the "Hoyos Promise of Security" that protects against specific breaches of the Hoyos digital "Hot" wallet’s security system. In the event of a non-authorized breach of the digital wallet’s security system, Hoyos commits to reimburse a Hoyos Wallet user for up to a maximum of USD $1M. AXA XL’s customized contractual liability insurance coverage insures Hoyos for defined amounts it must pay out in the event of a breach of the Hoyos Promise of Security.

Jason Harris, Chief Executive, Global Property & Casualty Insurance, said, "As an insurer, our mission is to work with our clients to innovate and support them in the development of their products or services which move the world forward. The insurance, especially designed for this company, allows Hoyos to make its wallet a much more compelling and marketable product."

"Hoyos now has the financial protection it needs to, in turn, offer people and institutions the added reassurance they need to go ahead and start using and storing crypto and digital currency tokens," said Mukadder […]