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On this special Bracewell crossover episode, host David Shargel sits down with Vince Morgan, chair of Bracewell’s insurance recovery practice and host of the Bracewell Covered podcast. The pair discuss the unique issues that arise at the intersection of cryptocurrency and insurance.
Name: Vince Morgan
About: Vince is a partner in Bracewell’s Houston office and chair of the firm’s insurance recovery practice. He represents corporate policyholders in complex coverage matters and is a contributing author of the only legal treatise specifically focused on insurance coverage for natural catastrophes.
Vince is also the host of Bracewell Covered, a podcast for corporate policyholders on issues in insurance law and how companies can manage risk.
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. 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 of 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.