Innovation Insurance Group

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You are here: Home / Our Services / Bitcoin Insurance Agency / Bitcoin Theft Insurance

Bitcoin Theft Insurance

BitSecure™, our proprietary bitcoin theft Insurance policy, is a bespoke insurance product customized for each customer. The policy provides a robust cyber and professional liability policy that goes well beyond narrow crime policies previously adopted by some bitcoin vault providers.

The policy protects both the corporate policyholder and well as its customers from any act, error, or omission of an Insured (including errors in technology, processes, and employees) which result in a theft of Insured Bitcoins (or their related private keys).

Coverage extends to both external hacking incidents and employee theft. Both hot wallets and cold storage are eligible for coverage under the policy.

In the event of a covered loss, the policy would reimburse a customer, as a direct loss payee (a feature not available in any other insurance program!) for the full value of the stolen Insured Bitcoins, subject to the full terms of the policy. In addition, the policy provides the corporate policyholder with unprecedented ability to work directly with its customers in the management and resolution of such incidents.

Our new to the market Bitcoin Theft Insurance policy announced on February 25, 2015, has been called a “defining moment” in insurance for the bitcoin industry.

List of articles discussing the product

Bitcoin Insurance

Combining his talents as a network security insurance expert and an insurance product development expert, Ty Sagalow is the leading expert on the unique risk and insurance needs of the bitcoin industry.

With the successful sale of BitSecure(tm), the first bitcoin theft insurance policy in February of 2015, he is the first to create a sustainable, robust insurance policy to cover the theft of bitcoins and other virtual currency backed by an A-Rated, global “top 10” Property and Casualty insurance company.

Bitcoin Price Index

Bitcoin Risk Publications and Interviews

Bitcoins- 2014 Review – Part 4

ICOS: RISKS AND INSURANCE

RIMS 2015- FOR003- Bitcoins: The Next Cyberinsurance?

Bitcoin acceptance is growing, as is the need for insurance cover

Bitgo CEO Talks About Bitcoin Financial Group’s New Bitcoin Theft Insurance Policy

Cyberinsurance Veteran Teams With BitGo on ‘Watershed’ Insurance Policy (CoinDesk)

“The Rise and Fall of Bitcoins”- 2014 Tribeca Film Festival

Mario Vitale, CEO of Aspen, on Innovation and Bitcoins

John Street Club Seminar Focuses on Emerging Risks

Bitcoins: US Gov’t Legitimizes Bitcoins

The Growing Legitimacy of Bitcoins

Mr. Sagalow Looks at Bitcoins

Bitcoin’s best insurance option may be a hybrid policy

Company Profile

Innovation Insurance Group is an insurance consulting firm and insurance brokerage founded by 30-year insurance executive, Ty R. Sagalow, former Chief Underwriting Officer, General Counsel and Chief Innovation Officer at AIG, and former Chief Innovation Officer at Zurich, NA and Tower Group. IIG focuses on three core practice groups: product development, expert witness services (primarily in the Management and Professional Liability areas), and bitcoin industry brokerage services.

Learn more about Ty R. Sagalow
Learn more about Innovation Insurance Group
Learn more about InsurTech Consulting
Learn more about Bitcoin Insurance Agency

Innovation Insurance Group, LLC BBB Business Review

Featured Topics

  • InsurTech
  • Innovation and Product Development
  • Directors & Officers Liability Insurance
  • Cyber Risk Insurance
  • Reputation Risk
  • Bitcoin Risk and Insurance
  • Emerging Risks
  • Interviews of Ty Sagalow
  • Gallery
  • Testimonials
  • Speaking Engagements

Featured Video Series

  • "What’s New in Insurance with Ty Sagalow"
  • "Innovations in Insurance hosted by
    Ty Sagalow"

Recent Speaking Events

  • Lawline How Is InsurTech Impacting the Insurance Industry? (Update) (8/16/23) (video)
  • The Future of Insurance (with Bryan Falchukc) (Video Podcast Aug 2022)
  • InsurTech Ohio Spotlight with Ty Sagalow (Podcast 5/10/22)
  • Meet the Godfather of Insurtech… (The Insurtech Leadership Podcast)(12/20/21)
  • Why Insurance Industry needs Lemonade Insurance-Style Business Models (Silicon Review, 2019)
  • CIIA Conference: Innovation, Culture and Technology
    May 13, 2021, Chili (Virtual)
  • Latin American Conference New Perspectives and Innovations for the Future of Insurance
    Nov 4, 2019, Mendoza, Argentina
  • All Speaking Engagements
  • 2016 Insurance Consultants Award
    2016 Insurance Consultants Award
  • 2017 Insurance Consultants Award
    2017 Insurance Consultants Award
  • 2017 Insurance Expert Witness of the Year
    2017 Insurance Expert Witness of the Year
  • AI 2017 InsurTech Consultant of the Year Award
    2017 InsurTech Consultant of the Year Award - AI International
  • 2018 Best Advisor Award – M&A Today
    2018 Best Advisor of the Year - M&A Today
  • 2018 Best Consulting Firm – Lawyers International
    2018 Best Consulting Firm - Lawyers International
  • 2018 Best Advisor of the Year - Corporate USA Today
    2018 Best Advisor of the Year - Corporate USA Today
  • 2018 Insuretech Consultant of the Year - Business Excellence
    2018 Insuretech Consultant of the Year - Business Excellence
  • 2019 50th Fasting Growing Company
    2019 50th Fasting Growing Company

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