Are insurers prepared for a Bitcoin gold rush in the U.S.?

Recently, Crypto Cowboys have headed out to Texas and other parts of the U.S. for low energy costs and favorable political climates. These companies are the crypto veterans and pioneers, but they’re facing new business challenges. Obtaining commercial insurance coverage is one of them—but it doesn’t have to be.

If the crypto world is new, insuring it is even newer. Experience in crypto is like living in dog years; every

year is more like seven. In fact, one of the largest carriers leading the insurance world in insuring crypto has only seen one claim to date and they’ve walked through very few operations.

As an experienced insurance agent, my role is to be the man in the middle between large crypto mining operations needing to insure against property losses like fire, lightning, theft, power surges, and the insurance carriers protecting hundreds of millions of dollars of assets if one of those bad situations arises.

 

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