Innovative Insurance Protection for Digital Assets
Curv Teams with Marsh and Munich Re to Develop Innovative Insurance Protection for Digital Assets
Marsh’s Digital Asset Risk Transfer (DART) team has worked in close collaboration with New York and Tel Aviv-based startup Curv and Munich Re to develop insurance protection for digital assets against theft from Curv’s Institutional Digital Asset Wallet Service.
Historically, crime insurance has insured the value of assets being held by an investor or custodian, while cyber insurance has responded to first-party losses and third-party liability associated with network security, data privacy, and system failure events. And for companies in the emerging digital asset space, it can be challenging to find insurance capacity at reasonable pricing.
The hybrid cyber/crime insurance solution that Munich Re is providing to Curv via one of its primary insurance carriers is unique in how it provides peace of mind to customers that Curv will have the financial capability to pay for claims of stolen crypto assets, custodied by Curv customers, resulting from an insured event. Munich Re engaged in a significant engineering project to inform this new approach that addresses both crime and cyber risks through a single insurance policy.
This innovative insurance solution was designed specifically for Curv. Marsh and its DART team works closely with leading insurers to create custom solutions tailored to a company’s specific needs.
Marsh’s Digital Asset Risk Transfer (DART) team offers specialized risk transfer solutions tailored to the needs of companies operating in the blockchain technology, cryptocurrency, and digital asset arena. We can create a custom solution based on your digital asset security and storage practices.
For more information on how you can benefit from this innovative digital asset insurance protection, contact your Marsh representative or email DART.US@marsh.com.