Large insurers Look to cover crypto businesses
Thursday, 07 26 2018, Category: Technology, Country: World
Large insurance companies like XL Group, AIG, Chubb, and Allianz are attempting to create new coverage options that will include crypto-related businesses.
Insurances for crypto businesses are one of the biggest things that are making large investors hesitant to join the crypto world. Not being able to have insurance for an entire business certainly doesn't sound that appealing to those who have the most to lose. This is why large insurance brokers are trying to find a way to create coverage options for such businesses, and include the crypto world as part of their offer.
One of the biggest insurance brokers in the crypto world, Aon, claims to be occupying as much as half of the crypto insurance market. Not only that, but the firm has stated that they see more and more protections regarding the crypto industry in the future.
Marsh & McLennan, which is another insurance broker, has stated that they have formed an entire team with a goal of developing broker policies for startups dealing with blockchain technology. They also said that 2018 is a big year for this part of their business.