294 days ago • cryptodaily
Nayms Issues World’s First Crypto-Denominated Industry Loss Warranty (ILW)
London, United Kingdom, July 6th, 2023, ChainwireNayms SAC Ltd., the leading crypto-native insurance marketplace, is proud to announce the issuing of the world’s first crypto-denominated industry loss warranty (ILW) through the second segregated account or ‘cell’ within its marketplace. This type of instrument is index-based and used for providing retrocessional reinsurance protection to property reinsurers.In this program, Nayms provides coverage for US named windstorm, attaching above a loss trigger of $60 billion. The basic structure aligns with other ILWs, but Nayms innovates on the traditional approach by using USD Coin (USDC) as the collateral within the segregated account on its independently audited Ethereum smart contract, and by securing that collateral through new mechanisms and concepts, including a digital multi-signature process, for enhanced transparency and efficiency.“This deal demonstrates so nicely the benefits of our business model and technology for a broad range of parties and opportunities. Notably, insureds gain access to alternative capital and investors can earn a return on their crypto that is fully regulated yet not correlated to most other financial instruments,” observed Dr. David Verbeeten, Chief Commercial Officer at Nayms.The purchaser is Prospero Re, a Bermuda insurer, wholly owned by Resolute Global Partners, with a strong commitment to innovation. For underwriting, Nayms was assisted by the deep domain knowledge of Daniel Vestergren, CEO of Varius Capital Partners Ltd. and former head of ILS at Hiscox Bermuda, who acted as general advisor. For seamless placement, both the purchaser and Nayms were guided by Guy Carpenter, who acted as sole placing broker.Tom Libassi, Co-Founder and Managing Partner of Resolute Global Partners, said, “We're proud to partner with Nayms to offer the first-ever property catastrophe reinsurance contract denominated in cryptocurrency. This contract is also the first ILW with a loss trigger based on the advanced catastrophe modeling technology behind our Footprint product, which provides coverage for severe losses along with a transparent, timely, and highly efficient way for investors to access the property catastrophe market.”The ILW market is part of the larger global property catastrophe reinsurance market, which generates more than $300 billion of annual renewal premium, presenting significant opportunities for insurers, insureds, and investors alike. Moving forward on the success of its innovative ILW, Nayms remains committed to deploying emerging technologies to reshape the insurance industry. The company invites interested parties to explore other pending investment opportunities. The company made estimates of the potential incomes in prospective segregated accounts within Nayms’ marketplace as such:a. Primary insurance for excess cyber liability, 10-15% ROIb. Primary insurance for smart contract hack and cross-chain bridging failure, 12-15% ROIc. Captive insurance for smart contract protection services, 8-12% ROId. Captive insurance for digital asset recovery services, 10-15% ROIAbout NaymsNayms is the world’s leading crypto-native insurance marketplace. The company is licensed in Bermuda for both general insurance (IIGB) and digital assets business (DABA Class F). It operates as a bridge between alternative capital and uninsured risk in the rapidly evolving digital assets’ space and other hard-to-place markets. It provides the technical and legal infrastructure over which diverse stakeholders, including insureds, insurers, underwriters, brokers, and others, come together to capitalise and transfer risk on-chain. Building on Ethereum, Nayms’ diverse team uses a smart contract to coordinate crypto-native payments, underwriting, claims handling, and capitalisation for a large variety of insurances.About Prospero ReProspero Re Ltd. is a Class 3A licensed reinsurance company domiciled in Bermuda and regulated by the Bermuda Monetary Authority. Launched in 2013 by long-term industry leader Don Kramer, Prospero Re is wholly owned by Resolute Global Partners Ltd. and offers both catastrophe and non-catastrophe reinsurance coverage to a wide range of insurance and reinsurance companies across the globe, predominantly in the United States, Europe, United Kingdom, Canada, Japan, and Australia. Business assumed includes property, marine, and offshore energy, as well as aviation and other sectors within the reinsurance market. We view our counterparties as partners and work to deliver meaningful solutions to our clients for their current and future needs. Prospero Re has an ‘A’ rating from Kroll Bond Rating Agency.About Guy CarpenterGuy Carpenter & Company, LLC is a leading global risk and reinsurance specialist with 3,400 professionals in over 60 offices around the world. Guy Carpenter delivers a powerful combination of broking expertise, trusted strategic advisory services and industry-leading analytics to help clients adapt to emerging opportunities and achieve profitable growth. Guy Carpenter is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s more than 85,000 colleagues advise clients in 130 countries. With annual revenue of over $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses including Marsh, Mercer and Oliver Wyman. For more information, visit www.guycarp.com and follow us on LinkedIn and Twitter.For more information on launching insurance vehicles at Nayms, contact [email protected]. For more information on Nayms and investment opportunities, contact [email protected] or visit Nayms': Official Website | LinkedIn | Twitter | Telegram | Medium | YouTubeContactHead of OperationsSarah [email protected]
344 days ago • cryptodaily
Revolutionizing Crypto Market with TMS Network, DogeMiyagi, and TRON!
As the cryptocurrency market continues to evolve, all eyes are on DogeMiyagi (MIYAGI) and its potential to replicate the success of TMS Network, while updates on ChainLink (LINK) and TRON (TRX) keep investors engaged. Launched in May 2023, DogeMiyagi has swiftly gained momentum, drawing inspiration from "The Karate Kid" and the iconic Doge meme.
With a growing market cap, this meme coin is on the verge of virality, joining the ranks of DOGE and PEPE. But what sets DogeMiyagi apart is its strategic alignment with the Ethereum staking trend and its commitment to community and decentralization. Will MIYAGI unleash its meme coin magic and become the next big sensation in the crypto world?
Updates on Chainlink and TRON
TRX Sets the Stage for Higher Liquidity:
Tron Stake 2.0 is on the horizon, offering increased staking flexibility and durations. This upgrade could attract more users, leading to higher rewards and liquidity. However, TRX's price action remains limited, consolidating around $0.065.
On the other hand, Chainlink (LINK) establishes a solid support level, hinting at potential growth with a golden cross formation in sight. However, it's TMS Network (TMSN) that steals the spotlight with its record-breaking presale.
Trading Reinvented
TMS Network (TMSN) has gained momentous levels of popularity as it revolutionizes the trading experience with its decentralized platform, which allows users to trade cryptocurrencies, stocks, CFDs, and Forex seamlessly, all backed by secure and transparent blockchain technology.
No middlemen mean lower costs and faster transactions. With an intuitive interface and educational resources, TMSN empowers traders of all levels. Users can say goodbye to high fees and welcome instant deposits and withdrawals.
From Karate Chops to Crypto Swaps
DogeMiyagi (MIYAGI) enters the bullish market with a meme coin karate chop! Inspired by "The Karate Kid" and the legendary Doge meme, DogeMiyagi has swiftly gained momentum since its recent launch. With a growing market cap, this coin is on the path to virality, joining the meme coin season rally with SHIB and PEPE!
Nonetheless, what really makes DogeMiyagi stand out is its perfect timing with the Ethereum staking trend. As Ethereum transitions to Proof-of-Stake, staking rewards have reached all-time highs, attracting investors to Ethereum-based projects, including meme coins like DogeMiyagi. Drawing inspiration from the iconic character Mr. Miyagi, DogeMiyagi embodies profound life lessons and has even earned the prestigious Medal of Blockchain.
It's not just about the memes but also about embracing a community that believes in decentralization and shared ownership. DogeMiyagi's vibrant ecosystem offers NFTs, crypto discussions flow, and fun side-splitting memes. The meme coin lets holders seamlessly interact with other wallets, all while staying true to sustainability principles.
In conclusion, the cryptocurrency market is undergoing continuous evolution, presenting great potential for DogeMiyagi as it rapidly gains momentum. Furthermore, with TMSN revolutionizing the trading experience, the world of crypto offers traders fresh opportunities. This dynamic and ever-changing realm of finance makes it an exhilarating time to be actively involved!
For more info on DogeMiyagi (MIYAGI):
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.