Lloyd’s of London and Evertas to discuss Crypto Insurance
By: Judd Bagley
Lloyd’s of London is famous for its willingness to insure unusual risks.
For example, Keith Richards’ fingers were insured by Lloyd’s for $1.6 million, while Bruce Springsteen insured his voice for $4.0 million. Of course, there is no traditional market for these policies. But thanks to the unique structure of Lloyd’s, experts on the value and risk profiles of famous body parts, among other things, can evaluate and compete for that business. That’s because Lloyd’s itself does not write insurance policies, instead, it is a marketplace composed of 76 syndicates leveraging their unique areas of expertise to find innovative solutions to risk management problems.
And because the world is sufficiently complex to exceed even the expertise of the combined talent within 76 syndicates, an additional layer of insurance companies with still more highly specific subject matter or geographic knowledge, known as coverholders, are added to the equation.
Coverholders are authorized to write policies on behalf of Lloyd’s syndicate members. Evertas is a Lloyd’s coverholder and the only one specializing in cryptoasset insurance and its highly specialized underwriting. By leveraging the niche knowledge possessed by its syndicates and network of coverholders, Lloyd’s is able to be as innovative as any player in the insurance space can be. Tuesdays with Lloyd’s is a webinar series showcasing cutting-edge insurance solutions while helping the broader market keep up on the latest.
All that preamble is intended to offer context to the real reason behind this post: on Tuesday, September 20, 2022, Evertas and crypto insurance will be the focus of Tuesday with Lloyd’s. Evertas President Raymond Zenkich will have the honor of chatting with Regional Director and President of Lloyd’s Americas, Hank Watkins. The conversation begins at 11:00am ET.
It promises to be a lively chat about a very timely topic, and we hope you will take the opportunity to join and learn.