Insurance companies are developing new products to address the risks of kidnapping and ransom in the cryptocurrency sector

2025-05-31 21:41:56

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ChainCatcher news, according to Cointelegraph, as violent attacks against cryptocurrency holders continue to rise, insurance companies are developing new insurance products specifically to address the increasing risks of kidnapping and ransom in the crypto space.

Currently, at least three companies focused on crypto insurance and security are preparing tailored kidnapping and ransom (K&R) policies for digital asset investors.

AnchorWatch COO Rebecca Rubenfeld stated that violent threats have become a major topic of discussion at this week's Bitcoin conference in Las Vegas, and the company plans to launch K&R insurance this fall.

Hylant Capital's Executive Vice President of Risk Andrew Kurt pointed out that K&R insurance has historically been very profitable for insurance companies due to its low claim frequency but high severity.

Relm Insurance CEO Joseph Ziolkowski mentioned that his company is finalizing K&R products, but pricing is complex and requires a detailed assessment of the client's physical and cyber defense capabilities.

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