A growing number of big-name insurers are getting into the crypto space. They are exploring new product options in this area and meeting with cryptocurrency custodians and trading platforms about coverage. However, exclusions can add up fast for crypto businesses and premiums can be more than five times that of a normal business.
Large Insurers Getting into Crypto
While most big-name insurers are reluctant to provide coverage to crypto startups, some are slowly coming around and quietly entering the space. Two leading insurance brokers that help companies shop for crypto policies, Marsh & Mclennan and Aon, were quoted by Bloomberg on Thursday: