As announced a few hours ago, Hoyos Integrity, the blockchain security company, has signed an insurance contract with AXA for their hot wallet.
Hoyos will thus provide their customers with the so-called “Hoyos Promise of Security”, a system that protects the users’ wallet from potential bugs and hacker attacks.
This solution has been designed specifically for Hoyos and will result in a distinctive feature of the company, as Jason Harris, executive director of AXA’s Global Property & Casualty Insurance division, 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, specially designed for this company, allows Hoyos to make its wallet a much more compelling and marketable product.”
In fact, in the event of unauthorised access to the wallet and security system, Hoyos will reimburse customers who use the wallet up to a maximum of $1 million, thus allowing them to have adequate protection over their assets.
Hoyos CEO, Hector Hoyos, explained:
“With AXA XL’s insurance partnership, Hoyos will bring an unmatched level of security to the existing global digital assets and mobile devices community. With the development of the Hoyos wallet, and the fact Hoyos is insured by one of the leading insurance brands in the world, Hoyos is poised to open the cryptocurrency market up to potentially hundreds of millions of new and existing digital asset users. Moving forward in our collaboration with AXA XL, we are already working towards ways we can extend our “Hoyos Promise of Security” to RSN token technology and the rest of our product suite.”