About this event
Insuring the Future: Cyber Insurance for Digital Assets 101
Our recent masterclass discussed Cyber Insurance for Digital Assets 101. A recent report published by the Identity Theft Resource Center has revealed that 27% of victims of social media hijacking in 2021 reported lost sales revenues. The consequences of these attacks can be immense; earlier in 2022, an Instagram cybercriminal hack resulted in a $1 million loss in NFTs. In response to this cyber risk, some leaders in the insurance industry have considered new products to act as an effective risk transfer mechanism.
Notch Insurance is an MGA that was founded to build the next generation of insurance products for the modern world’s burgeoning digital economy. Notch’s social media cyber policy includes real-time cyber threat monitoring, immediate payouts for each day that an account is inaccessible due to a cyber hack, and a crisis management service comprising a team of cyber experts.
Masterclass Topics:
- What are digital assets, and why do they need dedicated insurance policies?
- What are the risks associated with digital assets?
- What does a cyber insurance policy for social media accounts look like in practice?