Independent insurance coverage brokerage Lockton has launched a brand new custody insurance coverage facility for digital asset purchasers.
Backed by Lloyd’s syndicates and extremely rated insurance coverage corporations, the power will present full entry to London market capability. Features additionally embody a streamlined custody insurance coverage underwriting course of and the flexibleness to include varied limits and price constructions.
“Custody insurance coverage performs a significant function in defending client property saved by third-party custodians and is a vital software within the profitable operation of many digital asset corporations,” famous Neil Daly, head of Lockton UK’s rising asset safety staff. “Historically, securing that protection has been troublesome, usually requiring difficult underwriting processes and the involvement of third-party surveys.
“Our new custody insurance coverage facility makes it simpler for corporations working within the digital asset ecosystem to construct strong custody insurance coverage programmes, enabling them to raised shield priceless digital property and successfully serve their prospects.”
Sarah Downey, head of Lockton’s world rising asset safety unit, added that the power “represents a step ahead” in insurance coverage protection for companies inside the realm of digital asset custody.