The Canadian Bitcoin Consortium has launched Blockchain Insurance Inc., a captive insurance company designed to provide coverage solutions for businesses operating in the digital asset sector.
Describing itself as “traditional insurance for non-traditional industries,” the new entity aims to address the high premiums and limited coverage options often faced by crypto and blockchain-related companies.
A Captive Model For A High-Risk Industry
Blockchain Insurance operates as a captive insurer, meaning it is owned by the organization it serves. In this case, the Canadian Bitcoin Consortium and its members collectively own the company.
Rather than insuring cryptocurrencies or individual digital wallets, Blockchain Insurance focuses on providing business insurance coverage to companies working within or adjacent to the digital asset ecosystem.
For many firms in the sector, obtaining reasonably priced insurance has proven challenging. The industry’s relatively short history and evolving regulatory landscape have contributed to heightened perceived risk among traditional insurers, resulting in elevated premiums.
Koleya Karringten, Executive Director of the Canadian Bitcoin Consortium and President of Blockchain Insurance, stated that the captive structure allows the organization to offer members premium reductions of up to 25 percent compared to prevailing market rates.
She noted that directors and officers coverage for crypto trading platforms can range from $45,000 to $75,000 annually for $1 million in coverage, reflecting insurers’ cautious risk assessments.
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Bridging The Historical Data Gap
According to Karringten, industries such as oil and gas or healthcare benefit from decades of actuarial data that help insurers accurately price risk. By contrast, the digital asset sector is relatively young, with limited long-term historical data available to inform underwriting decisions.
This data gap, she explained, contributes to a perception-driven risk premium that inflates insurance costs for companies in the space.
Blockchain Insurance positions itself as the first association-based captive insurer focused specifically on the digital asset industry. While other insurers globally provide crypto-related coverage, Blockchain Insurance operates through an industry association structure, aligning its interests directly with its members.
Membership in the Canadian Bitcoin Consortium is required to access coverage, though companies do not need to be directly involved in cryptocurrency trading or mining. Financial institutions, accounting firms, and other businesses that interact with digital assets may also qualify.
Licensed In Alberta With Global Potential
Blockchain Insurance received its licence from the Government of Alberta in December 2025, following several years of regulatory engagement and collaboration with the province’s Treasury Board and Finance.
The licensing framework allows the company to operate beyond Alberta and potentially extend coverage internationally in the future.
Karringten described the licensing milestone as a significant step for the digital asset industry, viewing it as a signal of increasing institutional recognition and regulatory credibility.
Since receiving its licence, the company has begun discussions with consortium members interested in exploring eligibility and premium quotes.
About Blockchain Insurance Inc.
Blockchain Insurance Inc. is a captive insurance company established by the Canadian Bitcoin Consortium to provide business insurance solutions tailored to companies operating in the digital asset sector. Licensed in Alberta, the company aims to offer competitive coverage options while supporting the growth and legitimacy of the broader blockchain ecosystem.
