Breach Insurance Unveils ‘Crypto Shield Pro’: A Robust Insurance Solution for the Crypto Market

Breach Insurance, a Boston-based global insurance underwriter, has made an exciting announcement with the launch of its latest offering: Crypto Shield Pro. This innovative crypto custody insurance policy is specifically designed for institutional clients of crypto custody solutions. In a world where the security of digital assets is of paramount importance, this product aims to provide comprehensive coverage and protection for institutional investors.

Coverage and protection

Crypto Shield Pro sets itself apart by safeguarding policyholders against the theft, loss, and destruction of private keys and crypto assets held in custody. This level of protection has traditionally only been available to large, established crypto institutions, leaving smaller players at a significant disadvantage. The introduction of this insurance policy bridges the gap and ensures that institutional clients can benefit from the same level of security.

Banking and Financial Strength

Breach Insurance’s capacity for providing this coverage is backed by Accelerant, a data-driven risk exchange that empowers specialty underwriters. Accelerant has earned an impressive financial strength rating of “A-” (Excellent) from A.M. Best. This rating reflects their strong commitment to financial stability, which further strengthens the reliability and credibility of Crypto Shield Pro.

Policy Limits and Custom Coverage

To cater to the varying needs of institutional clients, Breach Insurance offers policy limits of up to $10 million per policy. However, for those requiring higher coverage limits or custom coverage options, additional underwriting is available. This flexibility ensures that clients receive tailored protection based on their unique requirements and risk profiles.

Active Wallet Monitoring Service

In addition to the coverage provided by Crypto Shield Pro, Breach Insurance goes a step further by offering a free Active Wallet Monitoring service. This service provides clients with a comprehensive view of on-chain risks associated with their wallets. By continuously monitoring wallet transactions, it allows for real-time identification of financial crime exposures, such as transactions linked to thieves, money laundering, terrorist financing, and sanctioned entities.

Identification of financial crime exposures

With the free Active Wallet Monitoring service, institutional clients can gain peace of mind knowing that potential risks are promptly detected and flagged. Breach Insurance’s advanced technology identifies suspicious activities, ensuring that any illicit transactions are swiftly brought to the attention of policyholders. This proactive approach to risk identification adds an extra layer of security to clients’ crypto assets.

Innovation and Execution

The release of Crypto Shield Pro and the free Active Wallet Monitoring service is a testament to Breach Insurance’s commitment to innovation and its ability to deliver on its promises. By continuously refining and expanding their product offerings, the company stays at the forefront of the evolving needs of institutional crypto investors. With an industry that constantly introduces new risks, Breach Insurance remains dedicated to adopting innovative solutions that provide its clients with the highest level of protection.

Access and Personalized Experience

Both Crypto Shield Pro and the free Active Wallet Monitoring service are easily accessible through the Breach proprietary insurtech platform. This platform offers a personalized experience to brokers and policyholders, enabling them to efficiently navigate the insurance process. The user-friendly interface and streamlined workflows simplify the process of obtaining coverage and managing policies, ensuring a seamless experience for all stakeholders.

Availability

Crypto Shield Pro is currently available in 35 states, providing widespread coverage to institutional clients across the United States. However, Breach Insurance has ambitious plans to roll out this product nationwide by 2024. This expansion will undoubtedly benefit countless institutional clients seeking comprehensive insurance coverage for their crypto assets.

Breach Insurance’s introduction of Crypto Shield Pro fills a vital insurance gap in the rapidly growing crypto space. By offering a regulated insurance solution, the company is addressing the unique needs and risks associated with the crypto economy. Through this innovative product, institutional clients gain access to comprehensive coverage and protection for their crypto assets, which was previously limited to only the largest players in the industry. Combined with the free Active Wallet Monitoring service, Breach Insurance demonstrates its commitment to proactive risk management. With their excellent financial backing and dedication to innovation, Breach Insurance is poised to become a trusted partner for institutional crypto investors seeking comprehensive insurance solutions.

Explore more

Can Federal Lands Power the Future of AI Infrastructure?

I’m thrilled to sit down with Dominic Jainy, an esteemed IT professional whose deep knowledge of artificial intelligence, machine learning, and blockchain offers a unique perspective on the intersection of technology and federal policy. Today, we’re diving into the US Department of Energy’s ambitious plan to develop a data center at the Savannah River Site in South Carolina. Our conversation

Can Your Mouse Secretly Eavesdrop on Conversations?

In an age where technology permeates every aspect of daily life, the notion that a seemingly harmless device like a computer mouse could pose a privacy threat is startling, raising urgent questions about the security of modern hardware. Picture a high-end optical mouse, designed for precision in gaming or design work, sitting quietly on a desk. What if this device,

Building the Case for EDI in Dynamics 365 Efficiency

In today’s fast-paced business environment, organizations leveraging Microsoft Dynamics 365 Finance & Supply Chain Management (F&SCM) are increasingly faced with the challenge of optimizing their operations to stay competitive, especially when manual processes slow down critical workflows like order processing and invoicing, which can severely impact efficiency. The inefficiencies stemming from outdated methods not only drain resources but also risk

Structured Data Boosts AI Snippets and Search Visibility

In the fast-paced digital arena where search engines are increasingly powered by artificial intelligence, standing out amidst the vast online content is a formidable challenge for any website. AI-driven systems like ChatGPT, Perplexity, and Google AI Mode are redefining how information is retrieved and presented to users, moving beyond traditional keyword searches to dynamic, conversational summaries. At the heart of

How Is Oracle Boosting Cloud Power with AMD and Nvidia?

In an era where artificial intelligence is reshaping industries at an unprecedented pace, the demand for robust cloud infrastructure has never been more critical, and Oracle is stepping up to meet this challenge head-on with strategic alliances that promise to redefine its position in the market. As enterprises increasingly rely on AI-driven solutions for everything from data analytics to generative