CASP Insurance

Comprehensive Crypto Asset Service Provider Insurance

Meeting Regulatory Guidelines

In the rapidly evolving world of virtual assets, ensuring a Crypto Asset Service Provider (CASP) stays protected from new risks and emerging threats is paramount. As a Crypto Asset Service Provider (CASP), navigating the complexities of the Markets in Crypto-Asset (MiCA) regulation can be challenging. 

CASP insurance can provide robust protection against a wide range of loss events, ensuring that CASPs are adequately protected. Partner with Elmore to benefit from claims expertise and a dedicated to approach to helping CASPs thrive in a regulated environment.

Read our latest insights

Read the latest news and insights from the Elmore blog:

MiCA Regulation and InsuranceReaad Here

CASP Insurance Explained

Elmore has designed a comprehensive CASP Insurance Policy providing under one policy all the key financial insurances including professional indemnity insurance to meet MiCA requirements.

To ensure policy coverage is kept up-to-date, Elmore has been actively engaging with key CASP stakeholders in developing a solution for the insurance requirements for and is well positioned to guide firms on the implications of operational risk events for their business and the suitable insurances that are required to be in place.

Elmore Comprehensive CASP Insurance - Policy Coverage

The following cover can be combined in one policy or offered in separate policies:

Professional Indemnity Insurance (PII)

  • MiCA PII Endorsement
  • Claims by customers
  • Claims for failure of regulated services
  • Claims for failure of technology

Cyber & Crime Insurance

  • Event management
  • Reputation management
  • Financial loss incl. fines
  • Cyber liability

Officers Liability

  • Claims by regulators
  • Claims by shareholders
  • Claims by employees
  • Claims by other stakeholders

Office & Employee Insurance

  • Property and equipment
  • Employers liability
  • Public liability
  • Travel insurance

Multi-National CASP Insurance Programme Management

In the scale up of a CASP, rapid global expansion requires a coordinated approach to Insurance acquisition.  Elmore’s established offices in the UK and EU and network of established insurance partners around the world a succinct Global Insurance Programme offering.  With the requirement to have local policies while being coordinated by one centralised function it can allow better compliance and visibility into the global requirements.

Partner With Insurers - CASP Insurance

With a captive audience and engaged users why not consider CASP insurance solutions along side existing services and offer additional value to customers, differentiating your offering and brining a new income stream for the business.  

Elmore delivers bespoke and innovative programmes for both consumer and business users, get in touch to learn more.

CASP Risk Management

For a CASP to partner successfully with it’s key stakeholders, it must appreciate the breadth and depth of financial and technology risk management.

In particular, the CASP must understand the operational risk considerations that a stakeholder will need to consider before engaging them. 

By following best practice controls and processes required to onboard insurance it can improves the overall governance and acceptance of a CASP.

The diagram represents the benefits of mitigating and reducing risk to optimise risk transfer through insurance:

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CASP Insurance Claims

Elmore is one of the early pioneers of arranging insurance for the CASP sector and as such have seen business models both succeed and fail. Being one of the few insurance intermediaries who has handled and managed complex CASP insurance claims, it makes Elmore the ideal risk transfer advisor and partner.

Elmore experienced claims team is committed to meeting the highest standards of service and operational excellence.  Seasoned professionals are aligned with each specialty product line and geography and consistently employ best practice standards. As needed, Elmore partner with specialised claims consultants to ensure that no matter how complex an Insurers claims may be, the proper technical expertise is employed to analyze and resolve the loss.

Keeping Your Data Secure

We take cybersecurity very seriously and are one of the few practices in the insurance industry to certify with Cyber Essentials. These controls can significantly reduce the risk of unskilled, but widespread, cyberattacks.

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