Business Liability
The liabilities that come with operating crypto in Canada.
Crypto businesses face claims from clients, regulators and shareholders, and are prime targets for social engineering. This programme combines professional indemnity, cyber liability, directors' and officers' cover and commercial crime for firms operating under Canadian securities and anti-money-laundering frameworks.
Maximum available limit CAD 30 million, subject to underwriting
What the cover addresses
Professional indemnity
Claims alleging negligent advice or service, including errors in custody or settlement operations.
Cyber liability
Breach response, notification costs, business interruption and third-party privacy claims.
Directors' and officers'
Defence costs and settlements for claims against directors, including regulatory investigations.
Crime and social engineering
Employee theft, impersonation fraud and fraudulent transfer instructions.
Conditions underwriters expect
- FINTRAC registration where required
- Written AML and KYC programme
- Annual penetration testing
- Security awareness training for all staff
Not covered
- Fines and penalties uninsurable under Canadian law
- Circumstances known before the policy began
- Deliberate fraud by the insured
- Contractual liability assumed beyond law