Global insurance intermediary Howden has teamed up with specialist law firm Lawrence Stephens to launch a pioneering solution that combines cryptocurrency theft insurance with legal asset recovery services—an industry-first, according to the firms.
Departing from traditional insurance models, the integrated offering blends legal expertise, forensic recovery capabilities, and access to a network of cryptocurrency vendors into a single, streamlined service. The initiative is designed to tackle the rising threat of digital asset theft amid increasing cryptocurrency adoption by both institutional and individual investors.
The service provides clients with specialist legal support from Lawrence Stephens, including the initiation of asset freezing and recovery proceedings. It also includes insurance coverage that reimburses a portion of legal recovery costs when engaging the law firm, along with access to crypto vendors and forensic experts for comprehensive asset tracing and recovery.
Lawrence Stephens brings deep experience in blockchain and digital asset disputes to the partnership. Matt Green, head of blockchain, digital assets and technology disputes at the firm, highlighted their track record in handling complex cases in the sector.
The launch comes at a time of escalating cybercrime across the UK. According to a report from the Royal Institution of Chartered Surveyors, more than 25% of UK businesses have been affected by cyberattacks in the past year—a trend The Guardian recently reported on.
This joint initiative reflects broader efforts to develop innovative, multi-disciplinary solutions that respond to the growing complexity of digital threats in an increasingly interconnected world.
