Copper Has Secured $500 Million Of Insurance For Digital Assets In Cold Storage

One of the largest insurance policies in the business has been established by cryptocurrency custody service Copper for digital assets kept in cold storage, the company stated in a statement.

The insurance, which goes along with Copper’s current Aon-brokered crime insurance coverage, protects against employee collusion, third-party theft, and physical loss.

Tom Davis, Executive Director in Aon’s Financial Services Group, said:

“It’s been a pleasure collaborating with Copper, whose aim is to provide the most secure solution to digital asset custody. This is a significant level of cover and demonstrates the value of partnering with a broker with digital assets expertise.”

According to Copper, the rise in the value of digital assets in recent years has raised the demand for cold storage and created the means to secure crypto assets offline.

This is especially true given the expansion of institutional adoption of the new asset class. The insurance will offer protection from employee theft, third-party fraud, and physical loss or damage to digital assets managed by the business.

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