Big insurance companies such as XL Group, AIG and Chubb are quietly offering cryptocurrency insurance as cryptocurrencies and blockchain technology continue to gain acceptance.
While the insurance companies active in this sector are not doing a lot to publicize their activities, those interviewed said they can avoid liabilities.
Allianz Sees ‘Big Opportunity’
Christian Weishuber, who represents Allianz, said cryptocurrency storage insurance represents a big opportunity. The insurer has offered individual coverage for cryptocurrency theft for the past year. Weishuber said digital assets are becoming more relevant to the “real economy.”
Insurance brokers Aon and Marsh & McLennan both said cryptocurrency insurance business has been good this year, despite the fact that the cost is too high for many companies in the space.
https://www.ccn.com/insurance-giants-see-big-opportunity-in-cryptocurrency-storage-coverage/