Internet Domain Name Insurance by Domain Tools?

Published by admin on September 10th, 2007 | Tagged Domain Names, Internet and Web 2

So many new things have been happening in the Internet domain name industry.Concepts like domain leasing and premium domain financing were very innovative and made good sense.This time its is this idea of domain insurance

Looking at the high prices and value of premium domain names ,there is always risk of domain theft.One way to protect them is to  to get your own ICANN registrar,but that is going to be very expensive.

DomainTools (Name Intelligence) is offering services to protect your high profile domain name.They have their own ICANN Registrar and they can safeguard your domains and provide insurance on them.All this will also involve a high level of contact with the domain owner so that proper verification can be made before any change.

They are going to pay you ten times the yearly fee , per day , until the stolen domain is recovered or until the claim is exhausted.For Example when the cost per year is $100,the coverage will be $100,000 and they will pay $1000 per day until the domain is recovered.

This is the first company offfering this new kind of service.I think this is a bold step and I know exactly what is going to happen next,other companies are going to work out similar concepts,so as to keep up with the new requirements and increasing competition.