When it comes right down to it, insurance really is all about risk management. At any moment, some unexpected event can lead to loss of some kind and in varying degrees. Sometimes that loss is related to property and other times it relates to human life.
Other times it relates to intangible assets like intellectual property and those assets that fall in between that which is tangible and that which is not, such as in cryptocurrency. Crypto does exist in the blockchain, but only as ledger entries within a wide network of global computers, and if you are the cause of someone losing what amounts to a small fortune in crypto, you could be held liable.
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