Insurance broker Willis Towers Watson has acquired Redefind, a specialist firm, to launch a crypto recovery insurance product in the UK. The new offering targets asset tracing and legal costs — a sign that traditional insurance is finally catching up with the crypto finance sector's growing pains.
What the insurance covers
The product is designed for businesses and individuals who lose access to crypto assets due to fraud, theft, or technical mishaps. It covers the costs of tracing those assets and the legal fees needed to recover them. Until now, few insurers offered anything like this in the UK market. WTW is betting that gap is worth filling.
Why WTW moved now
The acquisition is driven by rising demand for crypto finance services, according to the firm. More institutions are holding digital assets, and more are getting hit with losses. A standard insurance policy won't touch crypto — WTW wants to change that. The timing isn't accidental: regulatory clarity in the UK has improved, making it easier to underwrite this kind of risk.
What happens with Redefind
Redefind brings expertise in forensic blockchain analysis and legal recovery. WTW isn't saying whether the team will operate as a standalone unit or be folded into its broader financial lines business. Either way, the deal closed this week, and the product is available now to UK clients.
The next test will be demand. If it works, expect other brokers to follow. If it doesn't, the market stays as it is — underserved and expensive for anyone who loses their keys.
