What it does
CR 20 42 is a 2023 endorsement that excludes loss involving digital tokens and other electronic instruments. The 06 22 forms already exclude virtual currency of any kind (cryptocurrency, digital currency), and CR 25 45/CR 25 46 can add virtual currency back as "money"; CR 20 42 reaches digital tokens and electronic instruments beyond that exclusion.
Who needs it
Accounts that hold, accept or transact in digital tokens or other electronic instruments.
How it fits the policy
An exclusion endorsement narrows the base form; it is listed among the endorsements forming part of the policy on the declarations. Because exclusions are often attached by the underwriter rather than requested, check the forms schedule on every quote and renewal and explain any added exclusion to the insured. ISO's forms index lists the current edition for 51 jurisdictions.
Quoting and selling notes
- Ask whether the client holds or accepts digital assets.
- Specialty digital-asset crime markets may be needed.
