According to this article, 2018 is expected to be the biggest “hacker” year yet, especially for cryptocurrency… and few companies are willing to insure the investments. Who’s got your back? Contact us to learn about options for protecting your investments and the goals they’re driving you toward.
But according to industry insiders, there’s a hot new business that more and more firms are looking to get into: crypto insurance.
It’s understandable why big names like AIG, Chubb and XL Group haven’t provided too many specifics. On its face, providing coverage to crypto startups might seem borderline absurd. It’s an industry with a well-deserved reputation for being like the Wild West — an unregulated digital frontier where frauds and heists are rife (recall the hacks of Mt. Gox, and more recently, Bitfinex and Coincheck) and get-rich-quick schemes abound. The collapse in the price of Bitcoin this year hasn’t helped matters either.”