BitPay insurance claim rejected due to contract wording
After BitPay was hacked in 2014, the company attempted to file an insurance claim with the Massachusetts Bay Insurance Company (MBIC). The claim, however, was rejected on the grounds that the hack targeted a BitPay business partner, and not the company itself. Jeff Schmidt, founder and CEO of JAS Global Advisors discusses the importance of companies fully understanding what elements are covered under a risk management policy. Click here to read more.