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Digital asset protection: Custody Cover

Safeguarding the crypto economy

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    When digital assets are placed in the custody of a third party, trust in the custody solution is key. Compared to the traditional financial system, customers in the crypto economy often feel uneasy.

    Munich Re’s Custody Cover generates trust and confidence in an insured custody solution and enhances the safeguarding promise given on a long-term basis. Ultimately, Munich Re’s insurance backing will make the adoption of crypto safer and more attractive to custody users, custodians and custody tech providers.

    Crypto asset service providers face multiple challenges

    Lack of custody users’ trust in new custody technology
    Looming regulation will increase the pressure on custody providers
    Risk exposure from liability to clients
    Risks such as loss of crypto assets through theft or insider crime are on the rise.

    Our Custody Cover creates trust and confidence in custodians’ solutions

    Depending on the type and scope of coverage, our digital asset Custody Cover indemnifies the loss of digital assets in custody, thus providing an additional layer of protection for digital assets.

    The Custody Cover can insure custody providers, providers of the underlying infrastructure, or digital asset investor directly.

    It protects against theft and permanent loss of digital assets.

    Who benefits from the Digital Asset Protection?

    • Digital Asset Custodians
    • Custody Tech Providers (e.g. custody infrastructure providers)
    • Institutional Asset Holders (e.g. banks, institutional investors, digital asset managers, family offices, etc.)

    Four reasons why you should talk to us

    Munich Re is a reliable partner:
    We offer insurance capacity and, as an AA- rated player, have an excellent reputation in the financial sector.
    Comprehensive solution:
    Our product has been specially developed for custodial risks.
    Crypto expertise:
    Our specialised team is focused on long-term relationships.
    More than custody protection:
    Further products are being developed to deliver holistic solutions, e.g. slashing and smart contract covers.
    Get in touch:
    André Knoerchen
    Andre Knoerchen
    Head of New Tech Underwriting
    Dirk Schäfer
    Dirk Schäfer
    Senior Underwriter
    Arno Bongers
    Arno Bongers
    Senior Underwriter
    Johannes Benedikter
    Johannes Benedikter
    Senior Underwriter