Digital Asset Crime and Vault Risk Insurance
Crime insurance covers internal and external theft of digital assets held in the care, custody and control of Genesis Custody on behalf of its clients.
Vault risk insurance covers physical loss, damage, destruction or theft of digital assets held in the care, custody and control of by Genesis Custody on behalf of its clients.
All types of digital assets held by Genesis Custody are insured.
Significant limits of insurance are in place, which can be further scaled up to over USD600m.
No excess or retention applies to vault risk insurance, providing ground up protection for Genesis Custody clients.
No cost to clients for purchasing insurance, except where dedicated limit cover is required.
Ability to name clients as ‘loss payee’ under the policies.
Vault risk policy can provide exclusive insurance limits to those clients requiring dedicated limit protection, which will incur a cost.
Coverage placed with a reputable panel of London insurance companies with S&P ratings of A or better, with knowledge and experience of underwriting digital asset insurance products.
Customized insurance products, tailored to meet the specific requirements of Genesis Custody and its clients.
Arranged by digital asset insurance specialists Paragon International Insurance Brokers and Woodruff Sawyer.
“We are very pleased to have arranged vault risk and additional digital asset crime insurance for Genesis Custody to further protect their clients and to complement their impressive custody offering.”
Jeff Hanson, Senior Vice President,
Paragon International Insurance Brokers Limited
“Genesis Custody is a unique custodial solution that demonstrates high levels of risk management and gives insurers the confidence to provide insurance coverage, offering further peace of mind to their customers. We are excited by the company’s future plans and are delighted to partner with Genesis.”
Nicholas Edwards, Head of Specie,
Canopius at Lloyd’s of London, and Lead Insurer of the Vault Risk Policy