Integro expands D&O offering to cryptocurrency hedge funds

Integro Group Holdings L.P. on Thursday said it is making its hedge fund directors and officers and professional liability coverage available for cryptocurrency hedge funds.

The primary $10 million in capacity, provided by a London market rated A+ by A.M. Best & Co. Inc., may be used for hedge funds, private equity or venture capital firms, the broker said in a statement. Integro has secured an additional $30 million in excess capacity from six other insurers.

The broker said it has ongoing discussions geared toward expanding coverage to include crime, kidnap and ransom, and cyber.

“The number of digital asset hedge funds has doubled since last October, but the insurance marketplace has been slow to respond to its complex coverage requirements,” Rick Maloy, Integro’s alternative asset management practice leader, said in the statement. “Integro understands the technology aspects of funds as well as the financial side, which offers a unique advantage when speaking with the investment and underwriting communities.”