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Digital Asset Protection

Innovative insurance solutions for companies operating in the Digital Assets and Web3 industry

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    As businesses increasingly embrace blockchain technology, cryptocurrencies and
    tokenized assets, safeguarding these digital assets becomes paramount. Innovative insurance solutions can help manage the unique risks associated with digital assets, providing companies and their investors with the confidence and security needed to
    operate effectively.
    Total losses from crypto hacks in 2023 amounted to
    $3.3bn
    (Source: Merkle Science)

    Our tailored insurance products address the needs of:

    • Professional custodians securing large volumes of crypto assets
    • Institutional holders of cryptocurrencies and tokenized real-world assets
    • Wallet technology providers, and DeFi protocols where comprehensive coverage of smart contract risks is essential 

    Featured digital asset coverage solutions:

    Digital Asset Comprehensive Crime (Plus)

    Our Digital Asset Comprehensive Crime Policy is specifically designed to protect digital assets under your custody and to cover your liability against a wide range of threats. It covers claims from customers related to liability arising from both internal and external threats: 

    External hacking
    Breaches and unauthorized access by external hackers
    Employee fraud
    Internal theft perpetrated by employees
    Physical theft or destruction
    Theft or physical damage of cold-storage media on premise
    Breach of external providers
    Breaches of the systems of external wallet tech service providers

    Who benefits from our Digital Asset Comprehensive Crime Cover?

    With our Comprehensive Crime Cover you benefit from an extended coverage that even includes breaches of the system of external service providers, offering an extra layer of security beyond standard comprehensive coverage. Specifically designed for:

    Professional custodians / Digital asset trading platforms / Financial institutions operating custodial services for digital assets

    Additional tailored coverage is available for:

    • Institutional asset owners as first-party “own loss” coverage contingent on third-party custodians
    • Wallet infrastructure technology providers as adapted “non-custodial” liability coverage for corporate clients

    Further solutions to protect your digital assets:

    Staking risk and E&O insurance

    Our staking risk insurance safeguards against potential slashing risks inherent in Proof-of-Stake consensus mechanisms such as Ethereum, shielding investors from losses due to network rule violations.

    Who benefits from the cover:

    • Staking service operators
    • Professional custodians / Crypto trading platforms using the services of staking operators
    • Institutional asset owners as first-party “own loss” coverage in respect of third-party staking operators

    Smart contract risks insurance 

    Smart contracts become increasingly essential for blockchain-based financial operations. Our Smart Contract Risks Insurance provides crucial protection against asset loss from failures, breaches, compromises, or exploitations by external parties.

    Who benefits from the cover:

    • DeFi Operators
    • Professional custodians and digital asset trading Platforms operating smart contracts

    Why partner with Munich Re?

    Get in touch:
    André Knoerchen
    Andre Knoerchen
    Head of New Tech Underwriting
    Munich
    Dirk Schäfer
    Dirk Schäfer
    Senior Underwriter
    Munich
    Niclas Pfeiffer
    Niclas Pfeiffer
    Underwriter
    London