Amber Group, a leading global digital asset platform, today announced that it has successfully secured comprehensive global insurance coverage protecting digital assets held in its wallet infrastructure on behalf of clients, including direct insurance policy, indirect coverage and insurance-backed Theft Protection.
The company secured extensive direct insurance for its wallet infrastructure, from Arch Syndicate 2012 of Lloyd’s of London, one of the leading global insurance providers with an A rating (excellent) from A.M Best, and from OneDegree, the first InsurTech company in Asia to provide digital asset insurance, supported by a multi-year reinsurance partnership with Munich Re. Amber Group’s cold wallet insurance is now the first digital asset reinsurance case in Asia for MunichRe, one of the world’s leading reinsurers. Amber Group is currently working to build out a comprehensive global insurance plan that aggregates to over USD$100 million in coverage. This is set to increase as the company sets its sights on growing its asset management business.
Amber Group’s move to secure comprehensive insurance coverage represents a significant milestone amid surging digital asset adoption, with digital assets value totaling to a record high of US$3 trillion last year. As security and privacy become increasingly prioritized as cornerstones for user confidence in digital assets, the company’s move to expand its insurance coverage underlines its commitment to elevating users’ security experience by adopting industry best practices in risk management, platform security and digital asset safekeeping. During a robust and comprehensive underwriting process by OneDegree and reinsurance process by Munich Re, Amber Group achieved a proficiently high score on OneDegree’s Cymetrics cyber security assessments.
Bolstering its position as the preferred and trusted platform for global digital asset management and wealth building, Amber Group has also…
