FAQ’s
How much does the policy cost?
Option A
No Win – No Fee:
There will be no upfront costs.
You will be charged a success fee equal to 40% of the value of the crypto recovery this fee is payable on completion of the recovery and payable to M2 Recovery Ltd.
Option B
If purchased before the event (pre-Loss):
The basic policy costs £8000 + 12% IPT.
Total premium payable = £8960 and you will be charged a success fee equal to 10% of the crypto recovery; this fee is payable on completion of the recovery and payable to M2 Recovery Ltd.
Option C
If purchased after the event:
The policy is £50,000 + IPT @ 12% (£6000) + £5000 Broker Fee.
Total premium payable = £61,000 and you will be charged a success fee equal to 15% of the crypto recovery; this fee is payable on completion of the recovery and payable to M2 Recovery Ltd.
What is
insured?
Our unique crypto assets recovery policy covers the Legal Fees and Disbursements that you incur in connection with recovering crypto assets that You have lost as a result of fraudulent misappropriation by a third party.
Reasonable Prospects of Success
Means a written certificate from Your Solicitor within the claim form which provides a professional assessment of prospects of successfully recovering the Crypto Assets which are the subject of the alleged fraud. The prospects assessment must be at least 60% for coverage to apply and any such legal assessment will be relied upon by the Insurer. It must show a percentage and not a range. The legal assessment must also provide the Insurer with prospects of successfully obtaining and recovering a costs order (and therefore securing a return of legal fees and disbursements.)
What is not insured?
- Any loss as a result of currency exchange rate fluctuation at the time of settlement.
- Any Covered Loss where there is a related allegation against You involving:
- Dishonesty;
- Failure to include the claim on a tax declaration;
- Malicious falsehood;
- Offences under part 7 of the Proceeds of Crime Act 2002 (money laundering offences).
- Any costs and disbursements ordered against You in the proceedings.
- Any loss arising from or relating to the financial failure, liquidation, bankruptcy, insolvency, receivership or administration of any Exchange.
Are there any restrictions?
This policy shall terminate immediately:
- Upon exhaustion of the Limit of Indemnity by payments made under this Policy.
- If Your Solicitor with good reason refuses to continue to act for You.
- You dismissed Your Solicitor without good reason, or You withdraw from the claim without Our agreement, cover will end immediately unless We approve the appointment of another Solicitor in substitution.
- Your Crypto Assets have been withdrawn / encashed or sold by You.
- One Covered Loss has been indemnified by Us.
- The prospects assessment must be at least 60% for coverage to apply and any such legal assessment will be relied upon by the Insurer.
How Do I make a Claim?
E-mail your enquiry to claims@m2recovery.com
A member of M2’s legal team will contact you to begin the process of recovering your stolen crypto assets.