Evertas, a digital asset insurance entity, has acquired Bitsure, a leading provider of crypto mining insurance. Aiming to broaden coverage across multiple jurisdictions, this move may reshape the crypto mining landscape. The acquisition is speculated to support mining operations and other related exchanges amid market instability.
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Evertas Crypto Insurance Expansion: Boon for Blockchain and Mining Operations
Evertas, a crypto insurance underwriter, has expanded its offerings by increasing coverage limits to $420 million and including mining operation coverage up to $200 million per policy, making it the highest available in the market. The firm aims to provide accessible and comprehensive insurance to the growing blockchain and cryptocurrency sectors.
Crypto Insurance Expansion: Game-Changer or Hacker Magnet? Weighing the Pros and Cons
New York-based Evertas expanded its cryptocurrency insurance coverage from $5 million to $420 million for crypto custodians and exchanges, following authorization from Arch Insurance International. This significant increase offers improved risk management and addresses safety concerns in the industry, potentially driving wider adoption of cryptocurrency.
Navigating the Complex World of Crypto Insurance: Examining Solutions and Challenges
This article explores the complexities and high risks involved in insuring the crypto industry. It highlights the challenges faced by insurance providers, such as assessing over 2,000 variables, managing private keys, and proving the legitimacy of individual claims. Adopting traditional insurance sector lessons and blockchain technology could help promote industry growth and make insurance more accessible.