Banyan Risk Ltd, a Bermuda-based specialty Managing General Agent (MGA), has announced the launch of a new Digital Assets & Emerging Risks product.
The line will be underwritten through Banyan’s platform in Bermuda, with capacity provided through QBE Lloyd’s Syndicate 1886 and other Lloyd’s participation.
It will provide specialist insurance solutions for digital asset treasury companies, foundations, exchanges, custodians, fintech platforms, and other organizations operating in similar rapidly evolving sectors.
The initial offering will focus upon multi-line products encompassing Directors and Officers Liability, Professional Liability, and Crime, with both primary and excess solutions available on a stand-alone or blended basis.
“Digital assets and emerging technologies are creating significant opportunities, but they are also producing new and increasingly interconnected risks,” said Peter Horrobin, co-CEO of Banyan Risk Ltd. “This is exactly the kind of market Banyan was built to serve: complex, fast-moving, and best approached with specialist underwriting expertise.
Adding: “The businesses operating in this space today are often sophisticated organisations looking for long-term insurance partners that understand what they do. We believe this is the right time to bring a dedicated solution to market and we’re delighted to be doing so with the support of QBE.
“Over the past five years, we’ve also invested heavily in the data and technology that support our underwriting approach, helping us understand these risks and provide a more consistent experience for brokers and clients.”
