Cryptocurrency, a new niche for insurers

The cryptocurrency insurance (Bitcoin, Ether, Ripple, Litecoin,..) provides an opportunity for insurers who propose insurance solutions to cover risks arising from the use of these new currencies. AIG, Allianz, Chubb and XL Group are among the first companies to offer such covers.

The widespread use of the blockchain technology promotes the expansion of the virtual currency that enables electronic transactions to be carried out without recourse to an intermediary.

The unprecedented theft of the equivalent of 532 million USD from the Japanese Coincheck exchange platform in early 2018 boosts the development of this niche.