Any company which provides services to others for a fee is at risk of being sued over the services they perform. Even if a lawsuit has no merit, defending against one can be costly. This is true regardless of the size of the organization and whether it is publicly traded or privately held.
As a new industry with a frequently misunderstood history, companies in the bitcoin community frequently have difficulty in being heard by the insurance industry. This challenge often manifests in difficulty in procuring professional liability (E&O) insurance. With a CEO who was the former Chief Underwriting Officer and General Counsel for AIG’s E&O subsidiary, the Bitcoin Financial Group can successfully bridge this gap in communication and knowledge.
Through its relationships with the top management in the largest insurance carriers, we can often procure management and professional liability even for the difficult risks, regardless of size and length of business.
We can often combine traditional professional liability insurance with our customized bitcoin theft insurance policy, BitSecure, to create a bespoke, robust insurance policy protecting both the company policyholder and its customers from financial loss arising from a host of activities and conditions.