Lloyd’s of London-Backed Insurance Policies Can Now Be Paid for in Crypto on Ethereum

Lloyd’s of London, the three-century-old insurance marketplace, is backing digital asset protection policies arranged on the public Ethereum blockchain that can be paid for natively, on-chain using cryptocurrency, courtesy of Lloyd’s coverholder Evertas and smart contract insurance provider Nayms. Aside from the efficiency benefits of paying for policies in crypto and using a blockchain to streamline intermediary-heavy paperwork, a Lloyd’s of London consortium of syndicates backing crypto-native, on-chain insurance shows how far the industry has progressed in the last couple of years. Evertas provides cover to custodians, exchanges and the BTC mining industry. 

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