Instant insurance for Crypto, Blockchain and Web3 businesses

Crypto, Blockchain and Web3 business insurance is a specialized form of coverage designed to address the unique risks and challenges faced by businesses operating in the digital asset and blockchain space. For businesses dealing with cryptocurrencies, blockchain technology, and related services, it's crucial to consider specific insurance policies to safeguard against potential financial losses and liabilities.

‍Professional Indemnity / Technology Liability: Working with zero-trust architecture doesn't exempt businesses from the possibility of bugs, unintended use of technology, or professional errors. Professional indemnity, also known as technology liability or errors and omissions insurance, is vital. It provides protection against claims by third parties alleging financial loss due to professional or technology services. This could include errors in software, losses stemming from professional negligence during trades, unintentional copyright infringement, or breaches of contract.

‍Cyber Insurance: While it won't cover the hacking of private keys, cyber insurance is essential for protection against data breaches, ransomware attacks, cyber business interruptions, and denial of service attacks. Given the prevalence of cyber threats in the digital world, this type of insurance is increasingly considered a 'must-have' for digital businesses. Many commercial contracts now require cyber insurance, especially for businesses that process or hold sensitive and significant amounts of data.

‍Directors and Officers Liability (D&O): Directors and officers of blockchain and crypto companies face personal asset risks for the decisions they make on behalf of their companies. D&O insurance becomes imperative in navigating the ever-changing regulatory environment. Whether attracting new investors or safeguarding existing ones, D&O insurance provides crucial protection.

‍Crime/Specie Insurance: The safeguarding of private keys is paramount in the blockchain and crypto space. Insuring against the risks associated with holding cryptographic material is a prudent risk management strategy. This includes coverage for both hot and cold wallets, although obtaining insurance for hot wallets might be more challenging due to their higher-risk nature.

No, cyber insurance is designed to safeguard against claims resulting from events such as data breaches, ransomware attacks, denial of service incidents, and interruptions to your computer networks. Generally, cyber insurance does not encompass the theft of private keys; for this type of coverage, you would typically need a crime insurance policy.

Yes, having appropriate insurance coverage can enhance your Crypto, Blockchain and Web3 business' credibility and make it more attractive to potential investors. Investors often evaluate the risk management practices of a blockchain and crypto business before making investment decisions. By demonstrating that you have adequate insurance coverage to protect against potential risks, you can instil confidence in investors that their investment will be safeguarded.

The Public & Products Liability Insurance we offer is designed to protect Crypto, Blockchain and Web3 businesses from the unique challenges they face. It provides coverage for any legal liability incurred as a result of third-party injuries or property damage arising from your business operations or from the products your Crypto, Blockchain and Web3 business sells or supplies. This means, if someone were to get injured using your product, or if there's an accident at your premises leading to property damage or personal injury, this policy would cover the associated legal and compensation costs. This cover is essential for blockchain and crypto businesses, providing financial protection and peace of mind, allowing you to focus on growing your business.

The Professional Indemnity Insurance we offer is tailored specifically to meet the unique needs of Crypto, Blockchain and Web3 businesses. This coverage is designed to safeguard your business against the financial impacts of potential claims arising from allegations of professional negligence or misconduct. This could relate to instances where advice or services you have provided lead to a loss for a client, and they decide to take legal action against your blockchain and crypto business. Whether it's a matter of giving incorrect advice, breaching a professional duty, or unintentional copyright infringement, this policy provides protection, handling the legal costs and any required compensation. This cover allows Crypto, Blockchain and Web3 businesses to operate with confidence, knowing they have protection in place, should they face such challenging situations.

The Cyber & Privacy Liability Insurance we offer is tailored specifically to support Crypto, Blockchain and Web3 businesses in an increasingly digital business landscape. This policy protects against financial losses resulting from cyber incidents such as data breaches, cybercrime, cyber extortion, and more. It also covers expenses related to data and application restoration after a cyber incident. In the event of a security failure causing business interruption, this policy provides coverage for the losses incurred. Given the prevalence of cyber threats and the potentially significant impact they can have on blockchain and crypto business, this cover offers critical protection for your business in the digital age.

The Directors & Officers Insurance we offer is designed to safeguard Crypto, Blockchain and Web3 businesses and their leadership teams. This policy provides coverage for claims made against directors, officers, and managers of your blockchain and crypto business. It also extends to protect your company and its subsidiaries against liability claims. Furthermore, this policy includes cover for Employment Practices Liability, which guards your company against claims made by prospective, current, or past employees. With additional features such as Tax Audit Cover and Comprehensive Crime Cover, this insurance product is specifically designed to provide a robust shield against a range of potential legal and financial threats that could impact your blockchain and crypto business. By offering protection for your key personnel and business, this policy ensures blockchain and crypto businesses can continue their operations with confidence.

upcover offers insurance products backed by Professional Risk Underwriting Pty Ltd (ProRisk), Australia’s Underwriting Agency of the Year in 2020.

A Certificate of Currency is issued by an insurance company and is something you can use as proof that your existing insurance policy is valid. It contains all the information regarding your policy. You may be asked from time to time to prove your insurance - for loans to your business, for landlords of your premises, or for certain clients you might have. The moment you purchase your insurance from upcover you can send your proof of insurance to whoever requires it, at just a click of a button.

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