A wave of violent attacks on cryptocurrency holders is carrying forward insurers to develop new safety aimed at a growing physical danger: kidnapping for Crypto.
At least three firms specializing in Crypto insurance and safety are now preparing a series of abduction and ransom (K&R) policies for digital asset investors, According For a recent report by NBC News.
Anchorwatch Chief Operating Officer Rebecca Rubenfeld said that the fear of violence at this week’s bitcoin conference in Las Vegas was a major topic. “They are stressful,” said Rubenfeld. His firm is expected to launch K&R coverage from the decline.
Physical attacks on crypto holders are not new, with cases documented for more than a decade. But recent events, including Long torture of an Italian tourist The kidnapping and kidnapping of Crypto officials in France in Manhattan has intensified concerns.
Decentralized nature of cryptocurrency Makes Crypto officials an attractive goal. Accounts are controlled by individuals, transactions are irreversible, and assets can be looted if criminal access credentials are removed.
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Crypto Money adopts K & R insurance
Crypto Dhan is turning to traditional K&R insurance, which is common for corporate officials. Andrew Kurt, vice president of executive risk at the Hilent Capital, said that K&R has historically been highly profitable for insurers due to its low claim frequency but high severity.
Kurt said, “I think what has happened is probably not a big frequency issue, but there is more issue of seriousness here and there.”
RLM Insurance CEO Joseph Geolcovski said that his firm is finalizing his K&R offering, but pricing is complex, requiring a detailed assessment of physical and cyber rescue of the customer.
“If someone travels with 24/7 personal security details with them at all times, it will obviously it will be a credit and affect the premium,” he said.
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Crypto crime increase
On 27 May, South Korean officials revealed that they Arrested a Russian National Accused a robbery attempt during a fake crypto deal in Seoul. The suspect allegedly lured Korean investors in a hotel, where they tried to steal 1 billion (about 730,000 $ 730,000) in cash.
The incident occurred recently, including cases of kidnapping and ransom in violent crimes related to Crypto.
On 13 May, the family of French Crypto Exchange Pemmium co-founder and CEO Pierre Noizat was, Tarked for kidnapping attempt,
In response, officers and investors in the Crypto industry are rapidly looking for individual security services. On May 18, private firm infinite risk international Informed of increase in requests for bodyguards And protection contracts from high-profile data in crypto space.
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