The well-known insurance market Lloyd’s of London decided to pay attention to digital coin assets and blockchain technology. Representatives of the organization said that the British startup Superscript, with the help of the London-based giant, plans to release an insurance offer for crypto companies called Daylight.
The new product is intended for firms that deal with digital assets. He offers his clients to solve technology liability issues, as well as take advantage of cyber insurance. The main goal of the startup is to protect young companies from ransomware attacks, hacks, copyright infringement, and more.
Superscript representatives noted that in recent years, the world of digital coins has become in dire need of insurance, but this was not easy to implement. The main problem was the lack of offers and opportunities in this market. In addition, many crypto exchanges preferred to solve insurance issues on their own, creating reserves for storing bitcoins.
Superscript executives said well-known startups Argent, Chiliz and CEX will be the first partners.
The head of the company’s digital assets department, Ben Davis, assured that in addition to protecting physical funds, there are a huge number of risks that need to be considered. According to the expert, if a platform goes down or there is a privacy issue, ransomware attacks occur, a smart contract is hacked, and copyright and intellectual property infringement is noticed – in all these cases protection and insurance guarantees are needed.
Earlier edition reported that OneDegree signed an agreement with Munich Re to co-insure cryptocurrencies.