A completely new concept is coming from Domaintools who are offering a domain insurance against domain theft. A good idea if your business is relying on a certain domain name. Domain theft happens quite often as I wrote before today. On the domaintools.com website they say:
 
"DomainTools (Name Intelligence) has its own ICANN Registrar and we can protect any domain with a fence so high no one will be able to steal your domain. We can safeguard domains and provide Insurance on them because we would require a high level of contact with the owner before any change would happen. The cell phone number of the owner and a personal call back would be required to verify any change on a domain."
 
Furthermore they say about their domain insurance:
 
"Per Day a domain is stolen. If a domain is stolen. We will pay ten times the yearly fee per day until we recover the domain or until the claim is exhausted. If you want to enroll please email me at “jay -at- domaintools.com”. We are the first company and only company that is offering domain insurance. While this is not our core business however we have a dedicated connection to Verisign that is secure and well guarded. I will personally be monitoring every transaction."
 
If you think this is a good idea or not, as the business is changing this might be a good solution for many people that are not too much into domain marketing and need professinal help. You can read more about their offer in the domaintools blog.
 
Andrew Allemann from circleid.com also checked into this topic. He found out that he was not the only person to envision a need for domain name title insurance.
"I checked a few domain names, including the ones below, and they were already registered."
 
DomainTitleInsurance.com
DomainInsurance.com
DNTitleInsurance.com
DNInsurance.com
DomainNameTitleInsurance.com
DomainNameInsurance.com
 
Obviously there is a larger market for this product than many thought on first sight. Maybe they could even widen their product range. My idea would be an insurance against Domain Squatting.