Satec Underwriting insures CheckSig’s custody

In pursuit of the highest standards of service for its customers, CheckSig is now adding insurance coverage to its custody process. Thanks to the technological know-how of Satec Underwriting and CATTRe, the non-traditional risk reinsurance company of the Cattolica Group, a tailor-made policy was created capable of meeting the needs of CheckSig: the first and only Italian insurance contract in the cryptocurrency sector, so far exclusive prerogative of specialized operators on the London and US markets. In particular, the policy covers both the actual theft during the withdrawal operations of the stored Bitcoins, and the damages deriving from intrusions and security breaches and related to data recovery.

“We are particularly proud of this product because thanks to the skills of our teams it has been possible to build a policy for very new risks, in a sector that has enormous development potential. This confirms our ability to support the most advanced industry in technological innovation by offering insurance coverage that defends the company and therefore its customers”.

Nazareno Cerni, CEO CATTRe and Deputy General Manager Cattolica Assicurazioni

“In the pioneering Far West that still characterizes the Bitcoin ecosystem, it is crucial for us to bring professional and reliable service standards to the market. The insurance policy is an implicit validation and the appropriate complement of our custody service, as a guarantee for our customers. In Italy we are the only ones to boast insurance coverage, abroad we will compete with a transparent and verifiable protocol, technologically superior to that of our competitors”.

Ferdinando Ametrano, CEO CheckSig

Press Release (Italian)