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Banyan Risk launches digital assets and emerging risks insurance line
The initial product will cover Directors and Officers Liability, Professional Liability, and Crime, with both primary and excess capacity arranged through Lloyd’s syndicate 1886 and other participation.
Banyan Risk Ltd, a Bermuda-based specialty managing general agent, has launched a new Digital Assets & Emerging Risks insurance product line, aimed at companies exposed to digital asset and other rapidly changing, interconnected risks, according to Reinsurance News.
The coverage will be underwritten through Banyan’s Bermuda platform, with capacity provided through QBE Lloyd’s Syndicate 1886 and other Lloyd’s participation. The offering is designed for digital asset treasury companies, foundations, exchanges, custodians, fintech platforms, and similar organizations.
Banyan said the initial offering will include multi-line products spanning Directors and Officers Liability, Professional Liability, and Crime, available as stand-alone or blended solutions, with both primary and excess options.
Banyan’s co-CEO Peter Horrobin said digital assets and emerging technologies create major opportunities but also new, increasingly interconnected risks, and that specialist underwriting is needed for this fast-moving market.