Reinsurance News
Your search for “crypto”
Lemonade Crypto Climate Coalition protects nearly 7,000 Kenyan farmers
29th March 2023
Nearly 7,000 Kenyan farmers signed up to the Lemonade Crypto Climate Coalition to protect their crops during the most recent short rains season from October 2022 to January 2023. The Lemonade Crypto Climate Coalition is a first-of-its-kind, blockchain based parametric crop protection for subsistence farmers, led by the Lemonade Foundation. Read the full article
Crypto insurer Relm reserves for FTX collapse exposure
7th December 2022
The co-founder and CEO of insurer Relm has said that the firm has allocated an undisclosed amount of its general reserve for claims arising from the implosion of crypto exchange FTX. Writing on the firm’s website, Joseph Ziolkowski said that it had been ‘a difficult period’ in the ‘digital asset industry’ ... Read the full article
USI Insurance Services and GK8 team up on crypto insurance cover
30th November 2022
Broker and consulting firm USI Insurance Services is to team up with platform GK8 to launch a new plan giving the latter’s customers up to $1bn of dedicated cover. A joint statement from the two firms said that plan will allow GK8’s crypto custody solution offers access to the highest insurance ... Read the full article
Crypto crash may push re/insurers to add new exclusions
18th July 2022
The cryptocurrency price crash could accelerate the process of insurers rewriting policies to reduce potential exposure, according to the law firm RPC. The company says insurers are likely to review or amend policy wordings to ensure they are not indirectly insuring losses arising from the activity of clients ... Read the full article
Frontier to offer cannabis and crypto risks solution in APAC region
24th June 2022
Frontier Global Underwriting has announced it will be offering its D&O and Professional Liability to cannabis, crypto and Web3 risks in Asia Pacific. The new offering by the specialist financial lines MGA and Lloyd's of London coverholder, will be supported by new capacity from global emerging risk insurer, Relm Insurance. Frontier will ... Read the full article
Beazley launches D&O solution for crypto companies
17th June 2022
Specialist insurer Beazley has announced the launch of a new Directors’ & Officers’ liability (D&O) insurance product tailored specifically for crypto companies. According to the insurer, CryptoGuard - the first of its kind in the London and US markets - will put out capacity of up to $10m. Designed to address the ... Read the full article
Crypto & quantum computing among top risks flagged by Swiss Re
16th June 2022
Crypto assets and quantum computing have been flagged by analysts at Swiss Re as two of the most significant emerging risks for insurers and reinsurers, with the potential to create new risks within the global financial system. Swiss Re's 10th edition of SONAR covers 14 emerging risk topics across technological, economic, ... Read the full article
Relm launches reinsurance business that accepts fiat and crypto
6th April 2022
Relm, an insurance provider to the crypto sector and only commercial insurer globally to hold Bermuda's IIGB License, has launched Relm II, a fully regulated collateralised reinsurance business that can accept both fiat and crypto as collateral. The new business enables the creation of regulated reinsurance capacity for companies operating in ... Read the full article
Boost, Breach, and Relm partner for crypto wallet product
15th February 2022
The companies Boost Insurance and Breach Insurance have developed a crypto insurance product called Crypto Shield for retail wallet holders that is supported with reinsurance backing from Relm. A statement from the two companies said that the product will offer cover for the theft of cryptocurrency while in the custody of ... Read the full article
SiriusPoint invests in crypto data & tech provider Lukka
19th January 2022
Global specialty re/insurer SiriusPoint has announced a new investment into Lukka, an institutional crypto data and software provider. Lukka raised $110 million in its latest round of financing, with SiriusPoint acting as one of the lead investors. The company says this latest investment will enable it to expand its offering to institutional ... Read the full article
Cryptocurrencies & claims a focus of the seventh Lloyd’s Lab cohort
6th August 2021
Lloyd's has today unveiled the next 11 InsurTech startups joining the seventh group of the Lloyd's Lab innovation accelerator programme, which this time will focus on the development of simpler products and solutions targeting the cryptocurrency space. Lloyd's selected its next cohort of InsurTech startups from 179 applications, with each successful ... Read the full article
Aon partners with Nayms & Realm on crypto offering
9th March 2021
Re/insurance broker Aon has partnered with crypocurrency insurtech firm Nayms and Bermudian specialist insurer Realm to launch a new blockchain-enabled crypto pilot. As part of the collaboration, Aon via Nayms will conduct a first pilot with Teller Finance, a decentralized lending protocol, to highlight the ability to scale cover by matching ... Read the full article
Arch’s Lloyd’s Syndicate 2012 leads $100mn Crypto.com policy
12th May 2020
Arch Underwriting at Lloyd's Syndicate 2012 has helped provide a $100 million direct insurance policy to Crypto.com, a cryptocurrency finance platform formed in 2016. This is the largest coverage that Crypto.com has secured for its cold storage assets on custodial partner Ledger Vault. The new policy brings Crypto.com's total cryptocurrency insurance to ... Read the full article
New Lloyd’s policy to cover cryptocurrency wallets
2nd March 2020
Insurance and reinsurance marketplace Lloyd’s of London has launched a new insurance policy designed to protect cryptocurrency held in online wallets against theft or other malicious hacks. The policy was created by Lloyd’s syndicate Atrium in conjunction with Coincover to protect against losses arising from the theft of cryptocurrency held in ... Read the full article
Munich Re’s HSB warns crypto adoption can raise SME cyber risk
6th February 2020
HSB, part of reinsurance giant Munich Re, has underlined the risks of cryptocurrency after a survey found at least one-third of US small and medium-sized businesses accept it as a payment method. The survey, conducted in conjunction with Zogby Analytics, found that 36% of SMEs accepted cryptocurrency, while 59% of those ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
