Insurance Solutions for Digital Assets & Blockchain
The cryptocurrency and blockchain sector continues to evolve rapidly, introducing new opportunities – as well as new risks. Crypto Smart, a specialised offering from B Smart Insurance, provides tailored insurance solutions to address the unique challenges faced by organisations operating in this space.
From protecting digital assets held in vaults to covering exposures related to smart contract failures, validator penalties, and technology-related liabilities, our coverage is designed to respond to the specific needs of the crypto and blockchain industry.
Available coverage includes:
We also offer support in navigating regulatory developments, such as the EU’s Markets in Crypto-Assets (MiCA) framework, helping businesses align their risk management strategies with compliance requirements.
If your organisation is involved in digital assets, blockchain development, or related technologies, we can assist in identifying and securing appropriate insurance coverage to support operational resilience.
This policy covers the loss of digital assets resulting from internal or external theft, damage, or destruction of private keys stored in physical vaults. Traditionally offered in the specie market (which insures precious metals and valuables), this coverage has expanded to provide over GBP 1 billion in capacity for digital assets stored in deep cold storage or in transit.
Blockchain networks using proof-of-stake consensus mechanisms impose penalties (slashing) on validators for misbehaviour or rule violations. Slashing insurance covers financial losses incurred by validators if they are penalised due to an unintentional error rather than malicious activity.
Smart contracts, which automatically execute agreements based on blockchain code, are vulnerable to coding errors and security exploits. This coverage protects organisations against financial losses caused by smart contract failures, such as drained assets due to coding vulnerabilities.
Crypto mining operations require significant physical infrastructure, including mining rigs, data centres, and power equipment. Property insurance provides financial protection if these assets are damaged, destroyed, or stolen due to covered perils.
Cryptocurrency firms operate in a fast-evolving regulatory and financial landscape. D&O insurance provides legal protection for directors and officers against personal liability if they are named in lawsuits. This coverage is crucial for attracting and retaining leadership talent in the industry.
The EU’s MiCA framework establishes uniform rules for crypto assets not covered by existing financial regulations. It mandates transparency, disclosure, authorisation, and supervision of transactions. Businesses operating in this space should ensure compliance, and relevant insurance solutions can help mitigate associated risks.
We can assist with securing these coverages to ensure your crypto-related operations remain well-protected. Please feel free to reach out if you would like to discuss your specific requirements in more detail.
Companies in the crypto and blockchain space rely heavily on technology, AI, and coding. A single software error could lead to financial losses for third parties. Tech E&O insurance provides coverage against claims resulting from professional negligence, system failures, or coding errors.
Also known as commercial crime or fidelity insurance, this coverage protects against financial losses due to fraud, theft, embezzlement, forgery, or dishonest employee actions – both internal and external.
Also known as Professional Liability Insurance or E&O Insurance, PI insurance protects businesses from financial losses due to wrongful acts in the provision of professional or technology services. This is crucial for crypto firms offering consulting, development, or financial services.
Contact B Smart Insurance or speak with your broker to explore coverage options designed specifically for your needs.
Efficient Claims Processing
In the fast-moving world of digital assets, delays can be costly. That’s why our claims process is designed to be efficient, transparent, and responsive.
Innovative Products
B Smart provides innovative new insurance products that include lines that have been unavailable in Canada until now creating new revenue potential for existing books of business.
Brokers Only
B Smart never sells any insurance products direct to consumers without expert licensed broker participation.
Simplified Technology
B Smart is tech-focused to support broker efficiency and work with all major platforms to accommodate any brokerage’s specific workflows to simplify broker processes.
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Tailored coverages for the cryptocurrency and blockchain industry, providing comprehensive protection against unique risks like theft and smart contract failure.
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