The adoption of digital asset insurance and blockchain technology is revolutionizing the world in which we live. From banking, payments and capital-raising to real estate, healthcare and education, these products, services and technologies are producing countless new opportunities. However, they also bring with them unknown risks.

Risk Transfer Solutions for the Blockchain & Digital Asset Ecosystem

Lockton’s Emerging Asset Protection (LEAP) Team: innovation knows no bounds.

Breakthrough technologies require breakthrough solutions.

    The adoption of digital asset and blockchain technology is revolutionizing the world in which we live. From banking, payments and capital-raising to real estate, healthcare and education, these products, services and technologies are producing countless new opportunities. However, they also bring with them unknown risks.

    Similar to “traditional” businesses, digital asset companies’ risks can be managed via commercial insurance. By transferring risk to an insurer, a company can free up capital and other resources to innovate and push the envelope in ways companies that retain their risk cannot. More broadly, the benefits of a well-developed risk management strategy will provide enhanced protections for individuals and businesses.

    To enable the growth and innovation necessary to ensure their longevity, companies engaged in the digital asset ecosystem should consider maintaining various types of professional and management liability insurance coverage.

    Products we offer:

    • Specie/custody coverage

    • Directors and officers liability (D&O)

    • Crime

    • Errors and omissions (E&O)/technology errors and omissions

    • Cyber

    • Kidnap and ransom

    • Employed lawyers

    • Employment practices liability

    • Fiduciary liability

    • Slashing/staking

    • Surety bonds

    • Alternative solutions (captives, etc.)

    • Additional business insurance products, including property coverage with/without business interruption, general liability coverage and employee benefits, among others

    Why LEAP?

    Lockton’s Emerging Asset Protection (LEAP) team is a specialized, global group of more than 35 Lockton Associates with a deep understanding of companies operating in the blockchain and digital asset space. LEAP team members around the world — including in the U.S., U.K., Bermuda, Asia and Australia — have insurance brokerage and claims expertise spanning all financial and management liability lines of coverage and business insurance.

    LEAP also works closely with our reinsurance and alternative risk colleagues to create the best solutions for each client. Lockton was born from a spirit of innovation. Our independence — as the world’s largest privately held insurance broker — enables us to be more nimble than our publicly owned competitors. Add a relentless commitment to delivering what is best and what is right for every single client, and you’ve got Lockton’s LEAP team.

    Contact our LEAP Insurance Team

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    Sarah D. Katz Downey

    Managing Director and Global Blockchain & Digital Assets Advisory Leader
    sdowney@lockton.com
    +00 1 917 351 2543

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    Stephen Ambidge

    Partner
    stephen.ambidge@uk.lockton.com
    +00 44 207 933 2446

    General Inquiries

    Get in touch

    LEAP@lockton.com

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    LEAP Insurance FAQs

    Crypto insurance is the name often given to many different types of insurance for organizations that work within the cryptocurrency, blockchain and web3 communities. What this means to you will depend on what your organization does.

    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

    We're here to help

    If you'd like to discuss your insurance requirements, use the contact form on the link below and we'll get in touch as soon as we can.

    Talk to our team