Fotherington Insurance Group
a Second Life company
a Second Life company
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Why buy insurance from The Fotherington Insurance Group?
For a small upfront fee our clients can lay off some of the key risks of investing in SecondLife and therefore protect themselves from their shares becoming worthless due to fraud or companies going bankrupt.
Description of company
The Fotherington Insurance Group is an insurance and reinsurance company operating in Second Life. We provide four types of insurance (two aimed at residents, two aimed at SL companies):
1. we insure the shares held by residents in various companies listed on SL exchanges against those shares becoming worthless as a result of the company going bankrupt or through fraud. See here for a list of companies we are willing to cover and here for how it works, what you get and what you pay.
2. we write other types of insurance for residents, such as ISE deposit insurance.
3. we provide reinsurance to other SL insurance companies.
4. we provide insurance direct to other SL financial institutions.
Insurance Security
The assets which back the insurance contracts is 100% cash held on avatars, and is ring fenced against any other activities of the company. We hold sufficient cash on avatars to cover our four largest exposures. Hence, our clients may have the security in knowing that events which may affect the Second Life economy and therefore cause their own investments to become worthless affect the ability of The Fotheringtin Insurance Group to meet its obligations as they fall due.
Ownership and Financing
The company is currently 73% owned by Percy Fotherington and was initially started on 4 October 2007. The company is quoted on the ISE.
Strategy
We aimed to achieve an underwriting capacity of L$1,000,000 financed from rl US$ whilst writing profitable business across the reinsurance cycle. We are now almost at this level and monitoring events closely
Purchasing a insurance or reinsurance from The Fotherington Insurance Group
Contact Percy Fotherington Ingame or by email pfotherington@googlemail.com
For a small upfront fee our clients can lay off some of the key risks of investing in SecondLife and therefore protect themselves from their shares becoming worthless due to fraud or companies going bankrupt.
Description of company
The Fotherington Insurance Group is an insurance and reinsurance company operating in Second Life. We provide four types of insurance (two aimed at residents, two aimed at SL companies):
1. we insure the shares held by residents in various companies listed on SL exchanges against those shares becoming worthless as a result of the company going bankrupt or through fraud. See here for a list of companies we are willing to cover and here for how it works, what you get and what you pay.
2. we write other types of insurance for residents, such as ISE deposit insurance.
3. we provide reinsurance to other SL insurance companies.
4. we provide insurance direct to other SL financial institutions.
Insurance Security
The assets which back the insurance contracts is 100% cash held on avatars, and is ring fenced against any other activities of the company. We hold sufficient cash on avatars to cover our four largest exposures. Hence, our clients may have the security in knowing that events which may affect the Second Life economy and therefore cause their own investments to become worthless affect the ability of The Fotheringtin Insurance Group to meet its obligations as they fall due.
Ownership and Financing
The company is currently 73% owned by Percy Fotherington and was initially started on 4 October 2007. The company is quoted on the ISE.
Strategy
We aimed to achieve an underwriting capacity of L$1,000,000 financed from rl US$ whilst writing profitable business across the reinsurance cycle. We are now almost at this level and monitoring events closely
Purchasing a insurance or reinsurance from The Fotherington Insurance Group
Contact Percy Fotherington Ingame or by email pfotherington@googlemail.com
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