Multiple insurance companies have started launching customized kidnapping and ransom (K & R) insurance policies for the crypto industry

The wave of violent attacks against cryptocurrency holders is prompting insurers to develop new protections. Recent incidents, including the three-week detention and torture of an Italian tourist in New York and the attempted kidnapping of the family of a French crypto executive, have highlighted the real-world security threats facing the crypto industry. At least three companies specializing in crypto insurance and security are said to be preparing tailored kidnapping and ransom (K & R) insurance policies for digital asset investors. AnchorWatch chief operating officer Rebecca Rubenfeld said that security issues were the focus of attendees at the Bitcoin conference in Las Vegas. Relm Insurance CEO Joseph Ziolkowski pointed out that their insurance premiums for the crypto industry are priced based on customers' physical and cyber security measures.