Traditionally insurance companies are known to be very conservative the their style of management of the company, including the management of their assets.
One of the reasons for this is that they are heavily regulated and supervised by the regulatory authorities of their respective jurisdictions on the ground that they are, among others, also considered the custodian of the premiums paid by their policyholders. Any deviations from these rules is likely to be met with penalties in the form of heavy fines and in some cased even custodial sentences for the senior management.
Given such a scenario, it is natural for insurance companies to be extremely cautious in managing their affairs. In such circumstances, it will be almost unthinkable for the senior management of these insurance companies to accept premiums in a widely fluctuating asset class such as the cryptocurrencies.
Yet, we now have a company in the U.S just doing that!
For more read:
https://finance.yahoo.com/news/insurance-company-accepting-crypto-premium-134000687.html
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