Advisen hosted a free, one hour webinar exploring the growing insurance needs for cryptocurrency and blockchain. This is an exciting time to be involved in cryptocurrency and blockchain. They have become rapidly growing in their importance to the economy. New applications are being conceived and implemented that employ these technologies. At the same time, regulators are seeking to provide protection for investors and consumers without stymieing innovation.
This environment has been compared to the Wild West. While some claim to be making millions, exposures are evolving rapidly, multi-million dollar thefts of cryptocurrency are being reported, and investors may litigate when values plummet.
Insurers are seeking to create coverages to respond to this evolving market. This has the potential to provide organic growth for the industry, but the risks could outweigh the rewards. Jim Blinn hosted a panel discussion that explored cryptocurrency, blockchain and commercial insurance.
• Sarah D. Katz Downey, Senior Vice President, Marsh FINPRO
• Christopher Liu, Head of Financial Institutions Cyber, AIG
• Alexander C. Drylewski , Partner, Complex Litigation and Trials; Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates
• Jim Blinn, EVP of Client Solutions, Advisen