Domain Names Insurances

[monRa]

Hello,
many of us have heard "My domain was stolen..." and such things, so I come up in the idea insurancing domain names. First I thought insurancing websites but this would be much more difficult so after some talking I had with -RJ-, I think it's more realistic to insurance domain names than websites! I'm sure you will ask "How could such an insurance company work?", I think it's easy, you will send an e-mail(submit a form) with the domain names you would like to insurance, we after checking that your domain names are yours we will ask you do the following:
1) The domain names should be registered at ICANN accredited registar(We can also check this from Whois)
2) Have a "strong" password at your registrar account
3) Have a "strong" password at your e-mail account you use at Whois
That's all we will ask from you, after that we are gonna make a price payed monthly or yearly! In cases of your domain names are stolen you will get a settlement, for example you pay 2$ per month to insurance one domain name and it is being stolen, you will get a settlement of 30$ or so. Rememeber that you will get 30$ but also the chance to get back your domain name as we could help you get your domain back by contacting domain registrars(and with your help of course)! The big question is how would we know if someone is not lying but just saying "They stole my domain!". I think we could see this from the changes at the whois althought this is not 100% sure!
What do you think of my idea then?
I'm thinking of creating that company and have also come up to a name, it is called "SecuredLemon"
Thanks,
monRa
*If you want insurance a domain name please send me pm
**If you wanna be a partner at the company please send me pm
Don't we always say that domain names are real estate! And there are insurance for real estate, right? :hehe:

 

[tajimd]

Great Idea. This will surely bring some more stability to domain industry . Go ahead

 

[monRa]

Yeah maybe! I was thinking doing a press release if I ever do the page!
Anyway let's see what the other people think of it?

 

[Kate]

IMO such things should not happen.
We need to address the root of the problem first.
Just one example: the current transfer policies, under the guise of encouraging competition, make it too easy to hijack domain names (when you no longer have to POSITIVELY approve transfer requests). What has ICANN to say on the matter ?
In the case of stolen names where you have all the proof I think WIPO should have the power to take the domains away from the hijackers.

If you can lose your name because of spamming or violating a TM then I don't see why robbers should be allowed to have their way.

In the meantime, remember
a. to always set the registrar lock on your names (if not set by default).
b. monitor your names on a regular basis.
c. always keep your whois info up to date, in particular the E-mail address and the admin contact section (if not the same as registrant section). If you use whois privacy (which I do not advise), make sure you are still reachable.
d. do not use the same password to access all sites. Choose a password that is not easily guessed and not a dictionary name in order to thwart brute force attacks.
e. do not let your names expire. Don't wait until the last minute to renew. Don't rely on the renewal reminders from the registrar.
f. apply for TM for your most valuable names (those that you actually use for business). It's always cheaper than hiring a lawyer.

 

[monRa]

Seesm you are right
Any others opinions?

 

[staskul]

Good ideas
To keep Security your mail - its more importaint

 

[Kate]

The problem with intangible things like domains is that once lost, they cannot be replaced. If your car is stolen then you can buy exactly the same... and the insurance may possibly cover the cost.
Here insurance would only pay compensation (better than nothing but hardly a compensation) UNLESS legal assistance is included in the insurance package for the purpose of domain recovery, then it makes a lot more sense IMHO.

 

[DomainSage]

Very interesting idea, something a bit different.

The only problem I see is that you are aiming at the lower end of the market, where I think most people would not be interested in investing $2 a month with only a return of $30 if the domain is stolen.

What I would suggest is doing a bit of research to find out how many domains get stolen, and their value ... You can then work out a policy.

As a slightly different idea, rather than offering a payout ( as a traditional insurance ) why not launch a site where people can register their domains and details ... So it can help them later on if their domain does get stolen.

You could charge for this service.

Sorry just a quick thought, so have not really worked out any details, but I think it could work with a bit of development.

Wishing you all the best.

Richard

 

[monRa]

YEah you got anice idea DOmainSage!
So I will give service for not being your domain stolen, right"?

 

[DNWizardX9]

sounds like a nice service to look into
"securedlemon" lol