The coverage comes as the result of a partnership with major insurance broker Aon. Previously, Aon stated that the firm was seeing more cryptocurrency-specific protections catering to the new cryptocurrency industry.
A few years ago, Aon was ranked largest insurance broker in the world. It's pretty amazing to see legacy giants like that entering the cryptocurrency space.
I'd be curious to see what the terms are like.
It sounds pretty pricey:
Bloomberg’s sources say that premiums for crypto-related firms can tally to over fivefold the average coverage costs of a traditional corporate insurance policy, sometimes as high as 5 percent of coverage limits annually. Policies may require “as many as a dozen underwriters” to chip in $5-15 million of protection apiece.
