One of the trustworthy notes of any financial company is assuring the safety of customers’ investments against internal or external occurrences. To this effect, NBC SMG, one of the best financial investment, and savings firms, has gone ahead to acquire digital assets lifetime insurance.
Their line of business constantly revolves around providing vault solutions for storing digital assets and also providing investment or trading solutions to customers. Lifetime Insurance offers protection against fraud,theft, hacks, or any internal failures that may occur. They work with digital assets worth billions every day and also provide a level of protection for client’s investments which should bring peace of mind to their customers and with it comes their trust and support.
With technology constantly evolving, the legal definition of digital assets will also evolve. This means more digital assets will be developed and with it more vulnerability to various online and cyber threats. This is why NBC SMG have adopted a lasting solution to provide their customers a smart way to protect their investments.
Over $120 Million was lost to cyber theft and hacks only in the U.S. in 2020 according to reports from USNews and the numbers have doubled this year raising concerns among investors who do not wish to see their investments lost.
There is no promise that things will get better in the future with regards to cybercrimes and hacks on digital assets especially now that digital assets investment is making the headlines. There will always be that concern for several issues such as scaling, gas fees and worst of all theft. This issue poses devastating effect on the growth of assets and with it, disgruntled investors.
NBC SMG, by acquiring an insurance cover from BitGo Trust Company, will now provide lifetime protection for customers’ assets. The insurance company will in the case of losses from Copying and theft of private keys, Insider theft or dishonest acts by NBC SMG employees or executives, or Loss of keys, distribute insurance recoveries for all the clients affected. And for extreme cases where total loss is suffered and it exceeds insurance recoveries, it will not in any way change the obligation outlined in the insurance agreement.
Cooper Maddox H, President NBC SMG commenting on the acquisition of the insurance coverage “if we, a company with billions of dollars in managed digital assets do not take adequate steps to protect the client’s investments,then we have failed as a company and leave ourselves vulnerable to the threat of a damaged reputation, financial loss, and legal liability. Today they have taken the necessary steps to fully provide a lower cost Dedicated Customer insurance program to secure customers’ investments and digital assets”
NBC SMG has also taken extra steps to ensure that insurance coverage is not entirely needed. Insurance coverage is mainly activated when a loss occurs; however, they are constantly taking the needed steps to ensure that the event never occurs.
Other Ways NBC SMG are Protecting Your Investments
The easiest way cyber-attacks mostly occur is from people working within that particular company. Missteps and digital footprints can leave digital assets vulnerable to all forms of attacks if the employees, partners, and in our case investors are not properly trained or educated on the matter. NBC SMG takes necessary steps to enlighten employees, investors, and partners on the ways to avoid different risks to their digital assets. They have several measures to provide first level security for your account, and they include:
· State-of-the-art security measures.
· Two-factor authentication (2FA) and data encryption.
· Standard investor protection in case of insolvency.
· $200M investment from the world’s financial institutions.
They also have experts who are well trained to respond professionally to questions you might have about potential risks or what sort of investment accounts you should have.
They are in the business to make their customers rich and they intend to follow that trend. By insuring the funds and investment they have tackled to an extent uncertainty that may occur in the future. They are committed to building an actively inclusive environment, where everyone can be themselves and know their voices will be heard. And they don’t accept the status quo. If customer want to fix or improve something, go for it! They go above and beyond and encourage each other to do the best work of our lives.
Via: GlobalRelease Wire