A type of insurance that provides financial protection against losses resulting from failures or vulnerabilities in smart contracts. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They are often used in blockchain-based applications and cryptocurrency transactions.
Why do you need
Mitigating Operational Risks
Enhancing Investor Confidence
Compliance and Regulatory Requirements
Who would benefit?
businesses and individuals operating in the blockchain, cryptocurrency, or decentralized finance (DeFi) space.
Blockchain and Cryptocurrency Startups
Decentralized Finance (DeFi) Projects
Token Issuers and Initial Coin Offerings (ICOs)
Blockchain Developers and Auditors
Institutional Investors and Funds
Crypto Asset Custodians
What is Covered?
Loss of Digital Assets
Coding Errors and Bugs
Contract Performance Issues
Legal and Regulatory Expenses
Who is covered?
The specific parties covered in smart contract failure coverage can vary depending on the insurance provider and policy. However, the coverage typically extends to the following entities or individuals: Businesses and Organizations, Smart Contract Developers and Auditors, Token Holders and Investors and Crypto Asset Custodians
What is Excluded?
(examples of exclusions – not meant to be exhaustive)
Intentional or Malicious Acts
Market Volatility or Investment Risks
Your business is complex - securing a long term insurance partner shouldn't be.