CheckSig confirms its insurance coverage

The only Italian company in the crypto sector to do so, CheckSig renews its insurance coverage with a leading European group (rated AA by Standard & Poor’s).

CheckSig has renewed its insurance coverage, remaining the only Italian crypto company to benefit from such guarantees. The policy, provided by a leading European insurance group with a Standard & Poor’s AA rating, covers the company’s entire range of crypto-related activities, with a limit of up to four million euros per incident. This coverage exceeds current client needs and can be increased in the future if required.

“We are proud to confirm our insurance coverage, a hallmark of CheckSig since 2020,” said Ferdinando Ametrano, CEO of CheckSig. “Securing and maintaining this coverage shows our commitment to having our processes independently assessed by a qualified provider. However, it is disappointing that we remain the only Italian crypto operator with such protection, even compared to companies backed by major insurance groups.”

The renewal was secured with the support of Howden, a leading global insurance broker with 850 professionals across 23 offices in Italy. Howden helps companies protect their digital assets and infrastructure, fostering trust and development in a rapidly evolving sector. With the European MiCA regulation coming into force, the insurance market for crypto-assets is growing quickly, making risk mitigation increasingly crucial.

Roberto Panzeri, Specialty Director of Financial Lines at Howden, commented: “We are pleased to support CheckSig as its insurance broker. Finding a suitable solution was not easy, given the immaturity of the crypto-asset insurance market, which still often requires engagement with the London market. However, with the implementation of MiCA, we expect domestic markets to develop rapidly.” Panzeri added: “*Regulatory evolution demands adequate insurance tools to ensure the compliance of crypto-asset service providers. In this landscape, Howden positions itself as a strategic partner, offering innovative solutions aligned with new regulatory standards*.”

CheckSig: security, transparency, and industry leadership

In a sector still struggling with trust issues, CheckSig stands out for its commitment to security and transparency. Beyond insurance coverage, CheckSig is:

• The only Italian crypto company with SOC1/SOC2 Type II attestations, earned through ongoing audits by one of the Big Four firms, validating the quality of its system and organizational controls.
• The first in the world to provide, since 2020, a public Proof-of-Reserves, demonstrating on the blockchain the existence and full control of client assets.
• The first and only operator in Italy to offer crypto tax withholding services.

“The crypto sector offers the opportunity to combine blockchain transparency with the best practices of traditional finance,” Ametrano concluded. “We are currently applying for the licenses required under the MiCA regulation. This is not just an opportunity to rigorously comply with the law, but also to introduce innovations that we will announce in the coming months — innovations that will significantly enhance transparency and reliability.”

Download the press release