General questions

1. What is The Rock Insurance Co.?

   It's an insurance company: we provide insurance cover on your Second Life savings.

2. Why do I need insurance?

   Because Second Life is a great place to invest, but it's a completely unregulated market and also shares a lot of any emerging markets problems too; frauds, scams, technical issues, financial and business mistakes, have plauged the second life finance sector.

   We can protect your savings and investments, and as many avatars who has experienced all kind of drama in Second Life finance sector can tell: it's better to be safe, than sorry!

3. How it works?

   You choose an institution from our web site, choose a certificate and specify the amount you want to cover. The system tell you how much it would cost. Then you can go to the nearest The Rock ATM to pay that amount of money, so you can do the same process again on the web site and buy insurance.

   You can obviously pay the ATM first, and then use the web site to buy cover, but you may have deposited more or less than the amount needed. Remember: we are not a bank, so the money left in your balance at The Rock does not pay you any interested, so make your choice wisely.

4. Who insure the insurer? How can I be secure that you can refund me?

   We freeze the amount of money needed to repay the single maximum exposure we have, so we are able to handle immediately any company failure. We have also other assets, some of them can be seen on those stock exchanges that publish major share holders, so we can cover any other concurrent failures in a few days. We can also bring more money in Second Life, if needed.

   We are always looking for ways to provide enough evidences that we have financial coverage, so any new suggestion is welcome.

   But above all, we honor our insurances: we already had in the past, when it happened (the famous Ginko affair, for instance, The Bank, Banca d'Italia and few listed companies).

5. What is BIC aka Basic Insurance Coverage?

   Company CEO has to request a “Basic Insurance Coverage” for its company. The company will pay The Rock a basic monthly premium and The Rock will guarantee a coverage of 50% of the IPO value in case of bankruptcy to be payable to ALL the shareholders. If, at the moment of the application, market value is more then 20% below the original IPO, we will adjust our coverage/premium proportionally.

   When a company has B.I.C. (Basic insurance Coverage) our ATM’s will offer additional insurance certificates for those shareholders that are looking to have a 100% coverage.

   Our standards security limits and not invested cash reserves will apply as usual.

   Coverage is granted for bankruptcy only . Coverage is not provided if LL decides to change rules causing involuntary bankruptcies

6. Can I work with The Rock Insurance Co.?

   We are always looking with great avatars to work with us! If you have a good knowledge of Second Life finance sector and of The Rock Insurance Co. products, that you can contact us. You can have a look, also, to our Affiliate program.

Technical Questions

1. Why there are limits on how they works?

   We have different kind of limits; we do this in order to control the risk and to be able to honor the insurances we issued.

   Those limits can change, accordingly to the risk we associate to that institution.

2. How does the renew feature works?

   If you choose to activate automatic renew of an insurance, when it expires a "robot" will verify if it can be renewed. To be renewed it has to satisfy all criteria: you have to have enough money deposited in your The Rock balance in order to be able to renew your insurance and any limits imposed on the certificate or institution must not be reached.

   In case the renew failed, a notice will be stamped on your insurance, so you know what went wrong.

3. What do you insure with, for example, 25k L$ on a traded company?

   The amount insured on a public company, does not depend on it's value and it is not related to the amount of shares you own of that company.

   In case of bankruptcy we pay you back the amount insured.

   Example: you bought 10k shares at 1 linden each, paying 10k lindens. You buy insurance for 10k lindens; we pay only if the company goes in bankruptcy; the amount we pay is 10k lindens, not matter the value of the company.

4. My insurance is only two weeks long, if you halt a company because it's probably bankrupt, and as you state in "terms & conditions" it took up to 30 days to verify its status, you can just wait until the last moment to not pay me?

   No, when we halt an institution we issue an "Insurance Alert" on our news section; as you can see, we always say that we halt the issuing of new certificates, but those already issued remain valid; moreover, the expiring dates are frozen, so even if your insurance would expire in the mean time, you are still covered and in case of a verified bankrupt we will honor our insurances.

5. Hey, my insurance page states that I'm affiliated to an avatar ... what does it mean?

   It means that probably you became our customer, via a promoter or that you sign up using the ATM associated to him/her. In this case, refer to him/her for any assistance or informations on The Rock Insurance Co. products.