Resolute Global Partners, the insurance and reinsurance linked asset manager, has partnered with insurtech Nayms to bring to market the first industry loss warranty (ILW) to be denominated in a cryptocurrency.
Nayms, which operates a regulated Bermuda based marketplace for crypto insurance, said the crypto-denominated industry loss warranty (ILW) was issued through a segregated account within its marketplace.
The ILW sees Nayms providing US named windstorm retrocessional reinsurance covering, attaching above an industry loss trigger of $60 billion.
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