Aon will reportedly provide crypto custody solutions provider Metaco with crime insurance coverage via a group of predominantly European insurers.
Aon — a leading insurance broker that purports to occupy 50% of the crypto-insurance market — will reportedly provide crypto custody solutions provider Metaco with crime insurance coverage via a panel of London insurers. The news was revealed in a Metaco press release published by fintech news outlet Finextra on June 11.
The insurers — none of whose names have been disclosed — will reportedly provide the crime insurance coverage for institutions using Metaco’s SILO crypto asset infrastructure solution for hot and cold storage, which implements hardware security module-based technology.
While the fiat currency value of the coverage has similarly been kept under wraps, Aon has revealed that the policies provided will cover a wide gamut of risks — including private key destruction due to natural disasters and losses incurred by third-party hacks of hot wallets.
Last summer, Cointelegraph reported that big-name insurers such as AIG, Allianz, Chubb, Aon and XL Group have been increasingly adapting their coverage options to protect businesses in the crypto space, often using a high number of underwriters to provide policies for what is perceived to be a high risk sector.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.