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Digital asset and blockchain firms in Ireland face new kinds of risk. Lockton's LEAP team helps Irish businesses protect their balance sheets and keep innovating.
Breakthrough technologies require breakthrough solutions.
Digital assets and blockchain are changing how people bank, pay, raise money, buy property, receive care and learn. Each of these areas gains new openings, and each carries risks that are not yet fully understood. Digital asset businesses can manage many of their risks through commercial insurance, as traditional firms do. Passing a risk to an insurer can release capital and time, so a business can invest in new ideas instead of holding that risk itself. A sound risk management approach can also help protect both people and organisations. For firms working across the digital asset ecosystem, professional liability and management liability cover is worth considering. It can help support the growth and innovation they need to last.
Digital assets: trends, risks, and insurance solutions you need to know
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.)
More business insurance products, including property cover with or without business interruption, general liability and employee benefits, among others
Why LEAP?
Lockton's Emerging Asset Protection (LEAP) team is a global group of more than 35 Lockton Associates. They focus on blockchain and digital asset companies and understand how those businesses work. Together they bring brokerage and claims expertise across financial lines, management liability and general business insurance.
LEAP also works with Lockton's reinsurance and alternative risk colleagues to build tailored solutions for each client. Lockton started with a spirit of innovation. As a privately held broker of global scale, our independence lets us move faster than publicly owned rivals. Pair that with a steady commitment to doing right by every client, and that is the LEAP team.
Latest LEAP Content
Frequently Asked Questions
Why do companies using blockchain and digital assets need insurance?
Every business carries risk. Moving some of it off the balance sheet can release capital and time for new ideas. Insurance can also protect the personal assets of the people who run the company. Because insurance markets are demanding right now, blockchain and digital asset firms can find suitable cover more readily when they work with advisors who understand their particular risks and ways of working.
I'm a business in the digital asset space. What should I insure?
The right cover depends on the type of business and the risks it faces. Every firm has management risk, so directors and officers liability (D&O) insurance is worth a look. Custodians, exchanges and others who hold assets for third parties may want to consider fidelity/crime or specie/custody cover. Firms that sell professional services may look at errors and omissions cover, and technology service providers at technology errors and omissions cover. Cyber cover is relevant to almost every company today. This list is not complete, and other types of insurance may fit your services and needs.
Is there insurance for digital assets?
Yes. Cover for the loss or theft of digital assets includes fidelity/crime insurance and Lockton's exclusive Digital Asset Custody Insurance .