Private insurance is available for any company to buy, that will cover data loss or data theft.
The company must pass a very strict security audit, at their expense, to the satisfaction of the underwriter.
The mechanism for this already exists.
This type of “insurance” service doesn't exist. Please re-read the OP.
I would be on board, need more info please contact me in pvt message to see if you can handle what I need.
I'm not offering this service, although I'm hoping somebody else will. It could be very profitable, but would take up far more time and resources than I have available
I think the idea has merit, but I much prefer a proactive approach over a reactive approach. I think it makes more sense to focus energies on prevention of theft instead of how to respond to theft. Until we've exhausted all preventative measures, of course. It should be quite obvious that we are nowhere close to exhausting those measures (hot wallet / cold wallet for starters).
The problem is, the costs from proactive or reactive measures will be transferred to the customer, and most customers seem to be more concerned with fees (and convenience) over security.
What we need is intelligent consumerism.
Unfortunately the wild-west nature of bitcoin is getting in the way of serious growth, and proactive measures only go so far. Thefts already happen with no recourse and limited police response--it will only get worse as the criminals responsible acquire capital and refine their techniques. Anyways, non-regulated “insurance” companies of the type I advocate would probably increase deployment of proactive measures as they themselves would be a security company with skin in the game.
