Crypto confidence: How can the London Market demystify digital asset insurance?

Join us in the Old Library at Lloyd’s for a panel discussion and Q&A with Ben Davis, Peter Wedge and Will Gow - experts in the intersection of insurance and digital assets. In this session, the speakers discuss the current state of digital asset insurance, the opportunity for growth in this market and the barriers facing this growth.

The digital asset market has experienced explosive growth, with its market capitalisation soaring from approximately $14 billion in 2016 to around $1.6 trillion in 2024. This remarkable rise indicates not only the growing acceptance of digital assets but also the urgent need for specialised insurance solutions tailored to the unique risks associated with them. Digital assets, including cryptocurrencies, non-fungible tokens (NFTs), and digital tokens, present unique challenges that traditional insurance products often fail to address. Lost private keys render assets inaccessible forever, and approximately 3.8 million Bitcoin has been permanently lost. This highlights the critical need for comprehensive insurance coverage to protect against such risks.

The insurance market for digital assets is still in its infancy, with an estimated gross written premium (GWP) ranging between $150 million to $300 million as of 2024. As we move forward, the potential for growth is substantial, especially as digital asset businesses seek insurance not only for compliance but also to enhance their credibility with clients and investors.

Learning objectives:

• Why digital assets are important for the London Market
• What are the insurance needs of digital asset companies
• How can the London Market step up to meet these needs and stay relevant within the global insurance industry

A networking session with drinks and nibbles will be provided post-seminar outside the Old Library, in the foyer area.

This event is in collaboration with CII’s New Generation Programme 2024/2025 London Market cohort.

CPD events are open to CII and PFS members
Registration closes at 12pm two working days before the event date
For events held in The Old Library, Lloyd's pass holders may also attend and do not need to register
Original Photo ID (Driving Licence, Passport, Work ID with company logo and full name) is required to gain entry to all venues

Conditions:

• Email confirmations and original photo ID must be produced to security staff at the lecture venue
• Attendance confirmations are non-transferable to any other person or lecture
• All venues have limited capacity and registration and/or a Lloyd's pass does not guarantee admission

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Contact:
Please contact Patricia Pedraza (07463 028327) with any queries regarding the CPD events programme.

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