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On this special Bracewell crossover episode, host Vince Morgan sits down with David Shargel, a litigation partner, co-head of Bracewell’s cryptocurrency and blockchain practice and co-host of the Crypto Bits podcast. The pair discuss the unique issues that arise at the intersection of cryptocurrency and insurance.
Name: David Shargel
About: David Shargel is a business litigator with extensive experience representing clients in complex commercial disputes and arbitrations. He represents clients in a wide range of business sectors and circumstances. His experience includes litigating contract disputes, shareholder disputes, business valuation, insurance coverage, civil RICO and fraud.
David is also the host of Crypto Bits, a podcast that explores news and topics relevant to the cryptocurrency and blockchain communities.
Company: Bracewell LLP
[01:12] Crypto headlines and risk of insuring intangibles: David touches on the current state of cryptocurrency and recent headlines, including the Three Arrows bankruptcy and FTX bankruptcies. Vince discusses the history of the insurance industry, the difficulties of insuring intangibles and why cryptocurrency has been considered volatile to insure.
[02:37] Prominent players take a strong stance: Vince talks about why some of the major players in the insurance industry have taken a strong stance against crypto.
[04:17] Exclusive crypto risk carriers: Vince discusses startup carriers focused solely on crypto risk and his expectation that more carriers are likely to enter the marketplace.
[05:09] D&O coverage availability: Vince addresses potential changes to D&O liability coverage for crypto executives.
[05:58] The future of crypto insurance: Vince predicts that market demand for crypto products will increase and that insurance companies will respond with more coverage options.
[07:42] Increasing regulations may ease carrier concerns: David and Vince wrap up the episode by discussing whether mounting regulations on crypto will translate into more insurance coverage options at lower prices.
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The opinions expressed in this podcast are those of the speakers and do not necessarily reflect the viewpoint of their institutions or clients.