Zoe Sagalow

Frequent cryptocurrency theft gives rise to new area of insurance
But crypto-insurance is so new, many regulators aren’t sure how to treat it

Hackers stole $1.7 billion worth of cryptocurrency last year, a massive rate of theft and a big hit to the financial technology’s reputation.

A rising industry could mitigate the problem: crypto-insurance, which offers the promise that big financial firms will feel secure enough to take wider stakes in financial products based on bitcoin or other cryptocurrencies.

FEMA Relents on Flood Insurance
Sales of new policies will be allowed during partial shutdown

The Federal Emergency Management Agency reversed course late Friday and said it would allow sales of new flood insurance policies during the partial government shutdown.

“As of this evening, all [National Flood Insurance Program] insurers have been directed to resume normal operations immediately and advised that the program will be considered operational since December 21, 2018 without interruption,” FEMA said in a press release.