Global insurance intermediary Howden has partnered with specialist law firm Lawrence Stephens to introduce what the companies describe as a first-of-its-kind solution combining cryptocurrency theft insurance with legal asset recovery services.
The offering represents a departure from traditional insurance models by integrating legal expertise, forensic recovery capabilities, and access to cryptocurrency vendors into a single service package, according to a news release. The collaboration aims to address growing concerns about digital asset theft as cryptocurrency adoption increases across institutional and individual markets.
“At Howden, we believe in delivering solutions that go beyond traditional insurance,” said Freddie Palmer, head of digital assets and blockchain at Howden. “By partnering with Lawrence Stephens, we’re empowering our clients with a seamless, end-to-end service that combines technical insurance advice, legal recourse, and access to the broader crypto ecosystem. It’s a powerful response to one of the industry’s most urgent challenges.”
The service includes specialist legal support from Lawrence Stephens to initiate asset freezing and recovery proceedings, insurance coverage that provides partial reimbursement of legal recovery costs when engaging the law firm, and access to a network of cryptocurrency vendors and forensic experts for asset tracing and recovery.
Lawrence Stephens brings experience in blockchain and digital asset disputes to the partnership. Matt Green, head of blockchain, digital assets and technology disputes at Lawrence Stephens, noted the firm’s previous work in the sector.
“We’re delighted to offer our legal expertise to the insurance market through this collaboration with Howden,” he said. “After all, the legal process began helping an insurer reclaim payment following a ransomware attack.”
This development comes as cyberattacks surge across the UK, with a Royal Institution of Chartered Surveyors report showing over 25% of businesses affected in the past year, as reported by The Guardian. The new service reflects broader efforts to address the increasing complexity of digital threats facing both individuals and institutions in today’s connected landscape.
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