Term
Record whether the insurance-policy assumption has an initial term of not less than one year, and keep the renewal owner visible.
Why this page exists
Article 67 says CASP prudential safeguards can include own funds, an insurance policy, a comparable guarantee, or a combination. If the team is exploring the insurance route, the commercial problem is not just naming a policy. It is making the policy characteristics, risk categories, custody exposure, and unresolved evidence gaps easy to review.
Use this as a preparation checklist before a market conversation. It does not say a policy is sufficient for any specific CASP or that a supervisor, broker, insurer, or counsel will accept a given structure.
Article 67 policy-characteristic checks
Cancellation notice period
Track the cancellation notice period, the operational owner who monitors notices, and the remediation path if the market changes terms.
Territory and services
Map the territories of the Union where crypto-asset services are provided, the service classes, and any Article 65 cross-border assumptions.
Third-party insurance undertaking
Document the insurer or comparable-guarantee source, the public-source basis for the assumption, and who verifies authorisation and wording.
Risk-category evidence Article 67 names
Documents and statements
loss of documents, misrepresentations or misleading statements, document-control ownership, client-facing wording review, and version history.
Conduct, confidentiality, and conflicts
Evidence for legal and regulatory obligations, acting honestly and professionally towards clients, confidentiality controls, and conflicts-of-interest procedures.
Operations and systems
business disruption or system failures, ICT resilience, incident logs, continuity tests, vendor dependencies, and unresolved remediation items.
Custody and client liability
Where applicable, gross-negligence safeguarding scenarios, client crypto-asset and fund controls, and liability towards clients pursuant to Article 75(8).
Evidence handoff before broker or counsel review
- One-page service-scope map: services, Member States, client segments, custody/control model, and planned changes.
- Article 67 route rationale: own funds, insurance, comparable guarantee, or a combination, with open questions clearly marked.
- Article 75 custody file where relevant: agreements, custody policy, position records, segregation, return process, access controls, and incident history.
- Named evidence owners for governance, conflicts, confidentiality, business continuity, ICT, outsourcing, complaints, and remediation logs.
FAQ
Is this a policy wording template?
No. It is a preparation checklist for evidence and review ownership. Policy wording, placement, and regulatory treatment require qualified broker, insurer, legal, and regulatory review.
How is this different from the Article 67 guide?
The main Article 67 page explains the prudential-safeguard decision. This page is narrower: it turns the insurance-policy characteristics and risk categories into a review checklist.
Where does custody liability fit?
Article 67 names liability towards clients pursuant to Article 75(8) as a risk category for the relevant insurance policy. CASPs with custody or control exposure should connect this page to their Article 75 evidence file.