Chapter 13: Risk Management and Transference Issues in Blockchain Technologies

As blockchain and cryptocurrencies continue their ascent, businesses from nearly every industry are investigating how these technologies can provide a competitive edge and increase security. Seemingly, any business that does not adopt these technologies is likely to be left behind in the marketplace. However, inevitability of adoption and increased security does not mean that businesses will be invulnerable to the costs associated with data breaches, the theft of cryptocurrencies, and other associated losses. As such, a business should understand how the insurance market may or may not cover its losses. Indemnification may often hinge on the inclusion, exclusion, or definition of a single word or phrase buried deep within an insurance policy.