Markets/Coverages: Beazley Starts D&O for Crypto Companies; Notion PRO New 24/7 Professional Home Monitoring

June 15, 2022
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Specialist insurer Beazley said it launched CryptoGuard, a new directors & officers liability (D&O) insurance product tailored specifically for crypto companies – the first of its kind in the London and US markets.

The cover is designed to address the risks faced by all types of companies operating in this developing industry through all stages of their life cycle; from emerging start-ups, high growth businesses and established private and public organisations.

Luisa Celentano, underwriter, D&O Specialty Risks said: “The crypto market is growing rapidly, and becoming increasingly mainstream. Crypto firms face a myriad of risks from extreme volatility to a lack of regulation, and they also have to contend with different rules in different jurisdictions. One misstep can impact their financial results and business reputations, leaving senior executives in the firing line.

“There are a limited number of specialist insurance solutions tailored for crypto businesses and with established financial institutions and banks entering the market, now is the time for the insurance industry to respond.

“CryptoGuard is a step forward in providing quality, specialist D&O protection that addresses the D&O liability risks crypto and blockchain firms and their executives face.”

CryptoGuard has been developed following four years of research by Beazley into the sector, and the cover includes access to an integrated team of underwriters and claims managers with a deep understanding of the crypto market and its evolving risk landscape.

Comcast’s Notion Launches Notion PRO, an Upgrade Service Plan with 24/7 Professional Monitoring

Notion announced Notion PRO, a new service plan for Notion’s smart home system. Notion PRO enables homeowners to extend protection of their property with 24/7 professional monitoring for only $10 a month. By upgrading to Notion PRO, users may be eligible to save up to 15% on their home insurance premiums.

Notion PRO is a DIY security solution that requires no professional installation. The service works with Notion’s existing multifunctional sensors that monitor for water leaks, opening of doors and windows, sounding alarms and temperature changes. Once you have a Notion system, no additional hardware is required to upgrade to Notion PRO.

Notion PRO is the answer for an increased desire for security solutions, especially when it comes to DIY protection. According to research from Parks Associates, residential security adoption increased to 36% of U.S. households as of Q2 2021, primarily driven by DIY security.

Notion partners with insurance carriers in the United States and Australia to help homeowners proactively monitor their property.

“Smart home technology has allowed us to offer customers new and impactful ways to protect their homes and save on premiums,” said Sarah Jacobs, vice president of product development at Nationwide. “Risks like water leaks often go undetected until they’ve already done extensive damage. It’s great to work with a partner like Notion who is continuously looking for new ways to help homeowners proactively monitor for risks.”

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