Evertas, the world’s first and only dedicated digital asset insurance company, has announced a significant expansion of coverage limits across multiple policy types.
This move aims to bridge the substantial insurance gap in the blockchain industry, which has hindered technological advancement in the Web3 ecosystem.
CEO J. Gdanski emphasizes the need for expanded insurance protection in the digital asset space, with less than one percent of assets currently insured. The considerable increase in capacity by Evertas demonstrates the maturation and positive trajectory of the crypto space.
Following a successful venture financing round in December, Evertas allocated funds to facilitate this significant capacity expansion. Custodial cryptoassets now enjoy per-policy coverage limits of $420 million, while coverage for crypto mining hardware—a new product offering—reaches $200 million, the highest available limits in the market.
Evertas’ expansion empowers crypto innovators with streamlined underwriting, faster access to comprehensive coverage, and scalable policies to support their growth without additional underwritings, offering a significant boost to the industry.
As the only cryptoasset insurance provider with Lloyd’s of London Coverholder status, Evertas has the authority to offer A+ (Superior) rated, regulatorily compliant risk transfer products that safeguard digital assets on a global scale.
Evertas’ commitment to expanding coverage limits and closing the digital asset insurance gap reinforces its role in advancing the Web3 ecosystem and driving innovation in the evolving crypto landscape.
Also Read: Crypto Insurance Providers Struggle to Reach Users and Platforms
