Hong Kong's OneDegree has stated Asia's first digital asset insurance product with help from one of the world's biggest reinsurers, Munich Re. thesamreynolds reports.
As crypto’s market cap pushes past $2 trillion and makes its way onto the balance sheet of many institutional investors and corporations, Hong Kong insurer OneDegree has announced a deal with Munich Re, one of the world’s largest reinsurers, to offer a new digital asset insurance product.
Munich Re will provide reinsurance, described as"insurance on insurance companies," that ensures an insurance company remains solvent even in the face of large payouts. OneDegree runs “risk-based analysis”, explained Becky Tam, the firm’s General Manager of digital assets, that covers everything from cyber security, and operations, to personnel management.
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