New investment policies have appeared on the Russian insurance market, the profitability of which depends on the dynamics of bitcoin. The programs were presented by Renaissance Life and BCS Life Insurance.
Gleb Yakovlev, Vice President of the All-Russian Insurance Union, noted that there is a lot of noise and significant risks around cryptocurrency. He emphasized that before buying such products, it is important to carefully study the situation on the cryptocurrency market. If the investment part of the policy is a small fraction of the total amount, the risk to the client is usually small. However, if it is planned to invest most of the insurance premium in such assets, such products should only be available to qualified investors who understand and are willing to accept the corresponding risks.
Alexey Yanin, Managing Director for Insurance and Investment Company Ratings at Expert RA, believes that such products will find their customer, but will remain niche. He also noted that the risks associated with the high volatility of the bitcoin price are obvious.
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