VARA Licensing Insurance
Operating as a Virtual Asset Service Provider in Dubai requires authorisation from the Virtual Assets Regulatory Authority (VARA) — and insurance is a recognised part of meeting those licensing conditions. Many insurers avoid the crypto sector entirely, which is precisely where our specialist relationships matter. We advise VASP applicants and existing licensees on the insurance structures needed to satisfy VARA expectations and operate with confidence.
Meeting Your Licensing Requirements
The following outlines the principal categories of insurance relevant to VARA-licensed virtual asset firms. INLE Risk Management works with specialist insurers and is not limited to the cover listed below. For guidance specific to your authorisation, please contact us directly.
Directors & Officers Liability
The VARA framework expects directors and officers of Virtual Asset Service Providers (VASPs) to be protected against claims arising from their duties. D&O coverage responds to regulatory investigations, defence costs, and claims alleging wrongful acts in the course of governance — a core requirement for VARA licensing.
Professional Indemnity
Professional Indemnity Insurance protects VASPs and their advisers against liabilities arising from the provision of professional services, including alleged errors, omissions, or negligent advice. VARA applicants are commonly required to demonstrate professional indemnity cover before authorisation is granted.
Crime Insurance
Crime insurance protects against losses arising from employee dishonesty, fraud, and financial crime — a material exposure for virtual asset firms. Coverage is a recognised element of a robust VARA risk framework, safeguarding both the business and its clients.
Cyber & Technology
Digital asset operators face sustained cyber threat. Cyber coverage addresses data breaches, network security failures, business interruption, and extortion demands, with incident response support to contain losses and preserve regulatory confidence.
Custody & Asset Protection
Protecting client virtual assets held in custody is central to VARA's client-asset safeguarding expectations. Specialist solutions address the risks of holding, safeguarding, and transferring digital assets, supporting both commercial resilience and regulatory compliance.
Preparing for Your VARA Application?
Speak with us about structuring the insurance your VARA licence requires.
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