Here’s What Happened When One Couple Filed The Loss With Their Insurance Company
And there's this. The IRS says bitcoin is property. It's not currency and it's not a security. Here comes along Evan and Shira Rosenberg. They're suing Homesite Insurance and GEICO and the American Family Insurance Group. Back in June of 2021, their computer was hacked and the hackers stole their crypto worth $750,000.
The Rosenbergs went to the police and then they filed a claim on their homeowner's insurance policy. Their policy covers theft of personal property owned or used by an insured anywhere in the world. The insurance company paid the claim of $200. And that's why the Rosenbergs are filing a lawsuit arguing that the crypto was worth three quarters of a million, and that is how much GEICO and the others should have paid them. Not just $200. We'll have to see how this lawsuit gets resolved.