The cryptocurrency price crash could accelerate the process of insurers rewriting policies to reduce potential exposure, according to the law firm RPC.
The company says insurers are likely to review or amend policy wordings to ensure they are not indirectly insuring losses arising from the activity of clients who may have exposure to the crypto market.
This is likely to include greater use of virtual currency exclusions, which would prevent policyholders from making claims for any losses on cryptocurrency assets
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