All companies have inherent risks, and transferring these risks off a company’s balance sheet can free up capital and other resources to innovate and push the envelope in ways companies that retain their risk cannot. In addition to protecting a company’s balance sheet, insurance provides personal asset protection for the individuals running the company. Given the challenging insurance markets, blockchain and digital asset companies are much more successful finding the right insurance coverages when working with insurance advisors that understand their unique risks and processes.

This will depend on what kind of business you are and the risks of your company.

All firms have management business risk and should consider directors and officers liability (D&O) insurance.

Custodians, exchanges and those businesses that hold assets for others should consider fidelity/crime or specie/custody insurance.

Those companies that provide professional services to others should consider errors and omissions coverage. Similarly, those that provide technology-related services should consider technology errors and omissions coverage.

In today’s world, virtually every company should consider cyber coverage.

The above list is not exhaustive. There are many other types of insurance your organization should consider, depending on its services and needs.

A number of products are available for loss or theft of digital assets, including Lockton’s exclusive Digital Asset Custody Insurance product and fidelity/crime insurance.

Yes! Lockton’s LEAP team can help you understand your risk exposures and find the right insurance market partners to work with.

Reach out to Lockton’s LEAP team and we will guide you through the process in a way that is best suited to your individual risk and needs. Get in contact using this address LEAP@lockton.com

LEAP works with all types of companies operating in the digital asset ecosystem including, but not limited to:

• Cryptocurrency exchanges

• Custodians

• Banks

• Private equity/venture capital firms

• Blockchain incubators

• Decentralized finance companies

• Mining companies

• Lending platforms

• NFT platforms

• Staking companies

• Traditional financial service firms