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You are here: Home / Our Services / Bitcoin Insurance Agency / Cyber or Network Security Liability

Cyber or Network Security Liability

At the heart of many companies in the bitcoin industry is cyber or network security liability.  Whether coming from a cyber criminal, internal rogue employee or a hostile nation-state, the potential for a successful cyber attack against the infrastructure of a bitcoin company is very real causing damages to the company’s assets and those of its customers.

Cyber insurance is itself a fairly new industry having its start at AIG in the year 2000 when our CEO was Chief Operating Officer of a new AIG subsidiary frequently created with inventing cyber insurance.  Today the industry has grown to over 45 insurance companies and a premium base of $1.3 billion.  Yet, with the almost daily newsreels announcing the latest cyber attack against U.S. industries, cyber underwriters are still feeling their oats, often reluctant to take on new risks.   And, there is nothing newer than the bitcoin industry.

Thus, as a new industry with a frequently misunderstood history, companies in the bitcoin community can have difficulty in being heard by the traditional cyber insurance industry.   With a CEO who has been called the “Godfather of Cyber Insurance“, the Bitcoin Financial Group can successfully bridge this gap in communication and knowledge.

We can often combine traditional cyber 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.

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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 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

  • 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
  • Reactions North America Re/Insurance Conference
    Sept 26, 2019, New York
  • Global InsuTech Conference
    June 18, 2019, New York
  • InsideTech
    June 13, 2019, New York
  • Latin America Reactions Conference, InsurTech
    May 23 2019, Miami
  • AIMU/MICA Marine Insurance - A Global Perspective: The Future of Insurance
    June 21, 2018, New York
  • 12th Property Innovation Summit: InsureTech and the Lemonade Way of Claims
    May 2, 2018, St. Petersburg, FL
  • Italy Insurance Forum
    April 11, 2018, Milan, Italy
  • FST: The Future of Insurance
    March 6, 2018, Sydney, Australia
  • Artificial Intelligence Conference
    January 29 - 30 - Miami Beach
  • Kennedys leadership summit: What Law Firms Can Learn from InsurTech
    January 20, London
  • 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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