AIG To Offer Crowdfunding Insurance in UK

One of the biggest problems in crowdfunding is that the crowdfunding company does not perform, typically by not delivering a pre-sold product as promised.

Now, if the reason for non-performance is fraud, American International Group (AIG), a major global insurance company, will insure the investor.

Called ““Crowdfunding Fidelity” this product will protect individual investors against the theft of issuer assets by issuer directors, officers, or general employees which cause a direct loss to the individual investor.

This new insurance product was developed specifically to protect investors on equity crowdfunding platforms against issuer fraud.”

At the moment the product will be available only to purchasers in Canada and the UK

.
http://www.insurancejournal.com/news/international/2016/05/25/409858.htm

Advertisements

About JeffKoeppel

I am a corporate/securities attorney in the Washington, DC area. Prior to joining the firm, I was a Senior Attorney Advisor in the Division of Corporation Finance at the U.S. Securities and Exchange Commission. I am a member of the Bars of the States of Maryland, New York and the District of Columbia. You can also follow this blog on LinkedIn at: http://www.linkedin.com/pub/jeffrey-a-koeppel/0/63/5a9
This entry was posted in accredited investor, Broker dealers, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Dodd Frank, Film, fraud, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, technology, unfair and deceptive practice, VC, Venture Capital, Wall Street and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s