Costero have pioneered providing insurance for crypto related companies and exposures, most notably for Coincover’s ground-breaking wallet protection product, which protects retail investors against theft and hacking events.
Costero also provide solutions to exchanges, custodians, self-custody platforms, banks, trust companies, miners, investment managers and other companies with crypto exposures.
The most well-developed products on offer currently are within the crime and specie classes, and most leading custodians and exchanges have a combination of insurance policies sourced from these markets.
The crime product covers loss, damage, destruction or theft of the assets whilst in a secure location, or whilst in transit, internal and external fraud, and perhaps most importantly they typically cover electronic theft, which is vital protection
for entities with either warm or hot wallets. There is roughly £50m of capacity for this coverage in the market.
The specie product covers theft or destruction of assets whilst stored in secure locations, and also covers deliberate or dishonest acts of employees. There is roughly £600m of available capacity for this coverage in the market.
Costero can also assist entities looking for Directors and Officers (D&O) liability insurance, Errors and omissions (E&O) and professional liability insurance, and Key Man insurance.
Costero is here to work with you to provide solutions that are bespoke to your unique exposures and requirements.