Over the past few years, we have seen a surge of interest in the landscape of digital assets. There is huge potential to realise within a sector with such exponential growth, but like any monetary asset, there are risks that need to be protected. We have been working closely with the London insurance market to provide an innovative risk transfer solution for your clients.
As a specialist Fine Art and Specie team, we are professionals in handling niche products and items of high value. We are evolving to serve our client’s interests better and are applying our expertise in curating bespoke insurance solutions to new and developing crypto risks.
We help identify which product your client requires and tailor make it to their specific demands and needs, using our skill in mitigating all risk and our in-depth knowledge of the insurance market.
Appetite for crypto risks is expanding and insurers are embracing the new market and business opportunity.
USD 600,000,000 to USD 800,000,000.
THE COVER AVAILABLE
Insurers offer cover for crypto custodians. The insurable interest is the ‘Cryptocurrency Private Key’ (a string of alphanumeric characters valid for a given Cryptocurrency) held on designated premises by a third-party custodian.
STANDARD COVER INCLUDES:
- Physical loss or damage to the cryptocurrency private key.
- Deliberate and dishonest acts involving the collusion of a designated custodian.
- Theft occurs directly as a result of the use of the insured interest by a person (other than a designated custodian) while that person is physically present within the designated premises.
THIS COVER CAN BE EXTENDED TO:
- Key generation cover. Deliberate and dishonest acts occur prior to the commencement of the Policy Period when the insured interest is located within the designated premises.
- Deliberate and dishonest acts or omissions involving the collusion of designated custodians prior to the commencement of the Policy Period when the insured interests are not located within the secure area.
- Deliberate and dishonest acts or omissions involving the collusion of designated custodians occurring during the Policy period when the insured interests are in Secure Transit
FOR EXAMPLE PROFILE WE CAN TAILOR THIS PRODUCT TO
- Companies working within cryptocurrency and blockchain looking for risk transfer solutions for themselves and their clients.
- Financial institutions that provide a cold storage service.
- Cryptocurrency exchanges, custodians and managers of digital assets.
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