Home » Lloyd’s of London Offers Insurance Covers for Crypto

Lloyd’s of London Offers Insurance Covers for Crypto

Insurance giant Lloyd’s of London in cooperation with Coincover, a crypto-focused company, have provided a new form of liability insurance policy for cryptocurrencies stored in hot wallets.
news - Lloyd’s of London Offers Insurance Covers for Crypto

Insurance giant Lloyd’s of London in cooperation with Coincover, a crypto-focused company, have  provided a new form of liability insurance policy for cryptocurrencies stored in hot wallets.

Lloyd’s new offer, with limits of as little as £ 1,000 ($1,275), aims to protect cryptocurrency wallets from hacks and theft of assets stored in them.

“It is a new type of liability insurance policy with a dynamic limit that increases or decreases in line with the price changes of crypto assets. This means that the insured will always be indemnified for the underlying value of their managed asset even if this fluctuates over the policy period,” the announcement detailed.

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