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Timely Notice is your on-the-go source for sharp takes and expert analysis of the latest trends, breaking news, and sea-changes in global insurance law. 

May 16, 2018

Todd Kremin, a New York partner in Goldberg Segalla’s Global Insurance Services Group, dives into a technology having a major impact on the economy and the insurance marketplace — blockchain.  Todd explains what blockchain and cryptocurrencies are and outlines their advantages and disadvantages with respect to the transferring of funds.  

Todd then explains how startups utilize initial coin offerings (ICO) to sell cryptocurrency to investors and the financial frenzy they can spark. Todd addresses the class action lawsuits resulting from ICOs and their implications for D&O and E&O insurance coverage.

Todd concludes by examining the many unanswered questions blockchain technology presents for participants and insurers.