A digital asset custody technology firm, Metaco has recently revealed that digital assets by its customers will now be insured by Aon, the world’s second-largest insurance broker in terms of revenues.
Aon has lined up several insurers, mostly European insurers, to provide crime insurance product to institutions using Metaco’s SILO, hot and cold wallets.
The policy covers everything from natural disasters destroying the private keys kept offline in cold storage to third-party hacks of hot wallets connected to the internet, but has yet to disclose the dollar amount of the coverage.
Insurance coverage for digital assets is extremely rare for this nascent industry but insurance companies are gradually entering the market as adoption accelerates and more regulatory clarity is reached.
Metaco is based in Lausanne, Switzerland, and is partly owned by telecom provider Swisscom, Swisspost and Avalog.
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