The Finnish subsidiary of Norman Ibas, a company specialised in data recovery and computer forensics, believes that the recovery insurance model is the first of its kind in the world.
Jyri Pohja, CEO of Norman Ibas Oy, is confident that there will be a worldwide market for this "bit insurance".
"Our view is that we have created a concept here in Finland that is novel in the whole world. We are considering how we can expand it more widely into other markets in Europe, America and Asia," explains Pohja.