CII initiative unpacks how to navigate risks in cryptocurrency

The Chartered Insurance Institute’s (CII) New Generation Programme 2025 London market cohort hosted an event in October to examine how the London market can demystify cryptocurrency insurance.

In this session, held at Lloyd’s and entitled Crypto Confidence: How can the London Market demystify digital asset insurance?, experts from across the sector were brought together to discuss how insurers can engage with the rapidly evolving asset class. 

A survey conducted by the group before the event revealed that 96% of attendees said they did not feel confident in their understanding of cryptocurrency as it relates to insurance.

Following the discussion, 75% of surveyed attendees said they would now be able to hold a basic conversation on the topic and 88% reported that their perception of the insurability of digital assets had changed positively. 

The panel featured Ben Davis, chief executive at Native, Will Gow, head of UK cyber and technology risks at Crawford and Company, Peter Wedge, cyber reinsurance broker at Gallagher Re, and Richard Daws, chief executive at Redefind.

Each panellist shared their insights into how insurance firms can approach cryptocurrency with the same risk-based mindset applied to any emerging asset.

Leading conversations 

In the session, panelists said that cryptocurrency should be viewed as another asset class, rather than as an unmanageable risk, with the presentation and panel tracing the history and evolution of digital assets. 

The group also produced a Bytesize Guide to cryptocurrency to offer an introduction to the various types of digital assets that exist, the insurance solutions currently available, key underwriting challenges, claims complexities and the evolving regulatory landscape. 

Matthew Hill, chief executive at CII, said: “Initiatives like this demonstrate the power of our profession’s next generation to lead conversations on emerging risks and opportunities.

“The group has done an excellent job of bringing together expertise from across the sector, to develop confidence and understanding around cryptocurrency.”