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Providing insurance for the specialized equipment used to mine bitcoin might seem similar to the straightforward type of property-risk cover for data centers and the like, said Evertas CEO J. Gdanski. But a lingering fear of crypto generally, combined with several variables that affect the value of mining rigs, make
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London-based Arch Insurance International, a syndicate member of Lloyd's of London, has authorized Evertas to increase its coverage limit for a single policy for crypto custodians and exchanges to $420 million in a significant boost for risk management in the cryptocurrency industry. Source
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Evertas, an insurance company focused on digital assets, recently announced an increase in coverage limits and the addition of mining operations to its coverage portfolio.The insurer’s per-policy coverage limits on custodial cryptoassets will increase to $420 million, “nearly tripling the amount of risk transfer previously available to blockchain focused projects," according
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The Series A round was led by Polychain Capital and also included SinoGlobal Capital, Morgan Creek and Balaji Srinivasan. Original Source
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“Our approval of Evertas’ coverholder application is an example of collaboration between Lloyd’s insurer Arch and their new distribution partner on an innovative solution aimed at facilitating the growth of an industry sector previously hindered by a lack of risk transfer options,” said Hank Watkins, president of Lloyd’s in the
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Digital asset insurance company Evertas has completed a Seed Stage funding round and raised $2.8 million. The funding round was led by
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