Insurance broker Lockton Companies has announced the formation of a task force focused on risk transfer for companies in the evolving blockchain and cryptocurrency industry and their digital assets.
In addition to providing insurance and advice, Lockton’s Emerging Asset Protection (LEAP) team also promises to provide training and expertise to the market on the blockchain and cryptocurrency ecosystem.
The LEAP team includes 35 brokers and lawyers across the globe, including members based in the US, UK, Asia, Bermuda and Australia. In addition, the group includes a number of claims attorneys in the United States who can assist clients as soon as a claim arises.
The team is led by Sarah Downey, who joined Lockton last April to lead Executive Risk Claims and the LEAP team. Downey was from Marsh, where she was Managing Director, US D&O Product Manager and Digital Asset Risk Transfer Manager for New York-based Marsh’s FINPRO practice. She was also senior counsel for complex claims at Marsh. Prior to joining Marsh in 2014, Downey spent nearly a decade as an associate in the D&O Insurance practice groups of law firms.
“In addition to being at the heart of digital asset-centric businesses, digital assets are playing an increasingly important role in more ‘traditional’ businesses, and there is a growing need for insurance in this space,” said Downey said. “The digital asset ecosystem has grown significantly in recent years, creating an even more urgent need for insurance in this space.”
The LEAP team aims to work with clients on risk issues including crime insurance, cash insurance, directors and officers liability insurance, errors and omissions insurance, and liability insurance. cyber insurance. The team will work with Lockton’s associates in capital markets, reinsurance, captives and surety.
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