As reported on the Hunton Insurance Recovery Blog, in what appears to be a case of first impression, an Ohio trial court ruled in Kimmelman v. Wayne Insurance Group that the crypto-currency, Bitcoin, constitutes personal property in the context of a first-party homeowners’ insurance policy and, therefore, its theft would not be subject to the policy’s $200 sublimit for loss of “money.”
Continue Reading
Insurance
New York Attorney General Reports on Crypto Exchanges
By Scott H. Kimpel on
A new report from the New York Attorney General summarizes the findings of its recent Virtual Markets Integrity Initiative. The NYAG concluded that crypto trading platforms vary significantly in their risk management strategies and in the ways they fulfill customer responsibilities.…
Continue Reading
Insuring the Blockchain
Posted in Cryptocurrencies
Blockchain, or distributed ledger technology, is already proving to be a game-changer for businesses globally and across sectors. But is it secure? And can insurance help protect against risks and, thus, help advance the development of this technology?…
Continue Reading
Lloyd’s Jumps Into the Cryptocurrency Market, Insuring Part of Kingdom Trust’s $12 Billion Assets
By Hunton Andrews Kurth LLP on
Posted in Cryptocurrencies
On August 28, 2018, Lloyd’s of London underwriters have agreed to insure digital currency storage company, Kingdom Trust Co., against theft and destruction of cryptocurrency assets.…
Continue Reading