Lloyd’s of London Makes Quiet Entrance Into Crypto Insurance Market
Just a month after issuing a warning about crypto assets, insurer Lloyd's of London is beginning to enter the business, a new partnership shows.
Coinbase has revealed the details of its $255 million insurance policy for crypto held on customers' behalf.
An underwriter of BitGo’s $100 million crypto insurance policy says the custodian described it in a misleading way.
The move is another sign that the insurance industry is gradually becoming comfortable writing coverage for digital assets.
BitGo is providing $100 million of cover against theft of digital assets or the loss of cryptographic keys via Lloyd’s of London.
There is less than $5 billion of global capacity to insure crypto wallets held in custody. Coinbase has secured a significant chunk of that.