Who provides insurance for crypto assets held in cold storage?

Insuring cryptocurrency and digital assets kept in cold storage (where private keys are kept offline, often in secure vaults or hardware devices) relies on specialized insurance markets, brokers, and dedicated crypto-underwriters.

Coverage typically falls under specie insurance (traditionally used for high-value physical items like fine art, cash, or precious metals in vaults) and crypto-specific crime insurance.

Major entities and market players that provide or arrange insurance for cold storage crypto assets include:

• Specialized Crypto Insurers: Companies like Evertas focus explicitly on cryptoasset insurance, offering coverage for digital property, crime, and custodial storage risk across cold and warm wallet setups.
• Global Insurance Brokers & Facilities: Major brokerages structure comprehensive coverage programs by tapping into specialized underwriting syndicates . For example, Marsh Specialty offers specialized cold-storage solutions (such as their Blue Vault facility providing substantial multi-million dollar limits), and Aon frequently arranges major crime and specie packages for institutional digital asset custodians.
• Underwriting Markets: Much of the underlying risk capacity for institutional cold storage is backed by specialized syndicates in markets like Lloyd's of London.
• Niche/Retail Options: For individual hardware wallet users, specialized programs like the Safe Deposit Box Insurance Company provide policies covering cryptocurrencies stored on physical devices kept inside bank safety deposit boxes or private vaults against natural disasters and robbery.

What Cold Storage Insurance Typically Covers

• Physical destruction, damage, or loss of the hardware devices or media containing private keys due to events like fire, floods, or natural disasters.
• Internal and external theft or armed robbery of the physical devices or keys from the secure vault or storage facility.
• Employee dishonesty or insider theft involving physical access to the keys during storage or transit.

Are you looking for coverage as an individual holding a hardware wallet or for an institutional digital asset custody platform ? Let me know so I can share more relevant policy details or broker requirements.

Yes. Crypto held in institutional cold storage can be insured, but the market is specialized and the coverage is very different from FDIC/SIPC-style protection.

Major providers / routes

• BitGo — offers qualified custody with 100% cold storage and advertises up to $250 million of insurance against theft or loss. Its current insurance FAQ says the policy applies when BitGo holds all the private keys to the wallet.
• Marsh — an insurance broker that arranges specialized digital-asset/cold-storage coverage. Its Blue Vault program provides access to Lloyd's-market capacity of up to $150 million per insured, covering risks including theft, destruction, and damage to private keys.
• Marsh's newer global facility — launched in 2024 with capacity of up to $825 million for digital-asset custodians, specifically including assets held in cold storage. The capacity is backed by Lloyd's syndicates and other insurers.
• Lloyd's / Lloyd's syndicates — the actual risk-bearing insurance capacity often comes from Lloyd's syndicates rather than a crypto company itself. Lloyd's has previously supported crypto-specific policies through syndicates such as Atrium, TMK and Markel.
• CoinCover — provides crypto protection/recovery infrastructure and has insurance-backed products, but importantly CoinCover says it does not itself provide insurance coverage for assets or operations. It works with insurers and custodians.

The important distinction

If you mean "I own $10 million of BTC and keep the private keys in my own Ledger/Trezor vault—can I buy insurance against theft or loss?", that's substantially harder.

Most institutional policies are designed around a professional custodian/depository controlling the keys and following specified security procedures. For example, BitGo's insurance excludes situations where the client or a third party retains some of the keys.

If instead you mean "Who will insure $X million of Bitcoin that I want held in institutional-grade cold storage?", there are established solutions through custodians such as BitGo and insurance brokers such as Marsh, with Lloyd's-market capacity behind some of the coverage.

If you tell me roughly how much crypto you're looking to insure (e.g. $1M, $10M, $100M+) and whether you want self-custody or a third-party custodian, I can identify the most realistic insurers/custodians and explain what the premiums and coverage typically look like.

Yes. Crypto held in institutional cold storage can be insured, but the insurance market is specialized and usually works through the custodian rather than a conventional homeowner/business policy.

Some notable providers/custodians as of 2026:

• bitgo.com — maintains up to $250 million of digital-asset insurance for assets where BitGo holds all the private keys. Its custody product specifically uses offline cold storage. The policy is provided by a syndicate of insurers in the Lloyd’s and European markets.
• gemini.com — reports $100 million of cold-storage insurance for certain crypto losses, alongside separate hot-wallet coverage. Its custody assets are primarily held in offline, air-gapped systems.
• crypto.com — has reported $100 million specifically for digital assets in cold storage, within a $120 million crime/specie program arranged by Aon and underwritten through Lloyd's of London.
• onrampbitcoin.com — offers custody insurance through Canopius, a Lloyd's syndicate, with a $100 million facility and $50 million active limit; individually named client coverage can be arranged.
• anchorwatch.com — focuses specifically on Bitcoin custody and insurance, with coverage backed by Lloyd's of London and per-vault limits advertised up to $100 million, with larger institutional limits available.

If you mean self-custodied cold storage

That's considerably harder. If you personally hold the hardware wallet/private keys, ordinary crypto insurance generally won't automatically cover theft or loss. The insurance market tends to want a defined custody arrangement, documented controls, vaults, multisig/MPC procedures, etc.

There are specialty brokers and insurers that can arrange specie insurance for cold-storage digital assets. The relevant coverage can address things such as physical theft, loss/damage of key material, and certain custody-related events. Lloyd's is a major underwriting marketplace in this area.

One important distinction: "insured custodian" doesn't mean every loss is covered. Policies typically have specific covered perils, limits, deductibles, exclusions, and requirements about who controls the private keys. For example, BitGo explicitly says its main policy applies when BitGo holds all private keys and doesn't cover situations where the client or another party retains some keys.

If you're asking because you have, say, $1M–$100M+ of Bitcoin in your own cold storage and want to insure it, I can explain the actual routes to obtaining a policy, including which brokers/underwriters will consider self-custody and what security requirements they typically impose.

Insuring crypto assets held in cold storage (offline private keys or hardware setups) relies on specialized insurance markets and institutional custodians rather than standard consumer insurance. Because cold storage significantly reduces online hacking risks, it is much easier to insure than hot wallet storage.

The landscape of who provides this coverage is divided into major insurance markets/brokers (the underwriters) and institutional custodians (who build insurance directly into their storage products).

1. The Insurance Underwriters & Brokers

The actual risk is typically underwritten by specialized global insurance syndicates, most notably within the London Market:

• Lloyd's of London: Various syndicates under Lloyd’s (and groups like the Lloyd’s Product Innovation Facility) provide the underlying specie and crime insurance policies for major crypto custodians and vault networks.
• Marsh: As a massive global insurance broker, Marsh has a dedicated Digital Asset Risk Transfer (DART) team that structures bespoke cold storage "specie" insurance policies—covering physical theft, damage, or destruction of private keys stored in secure vaults.
• Price Forbes: Another prominent specialty broker offering customized crime and specie coverages for digital assets and cryptographic cold storage.

2. Institutional Custodians (Built-in Insurance)

Individual retail holders usually cannot buy a direct, standalone enterprise cold-storage policy off the shelf. Instead, institutional investors and platforms access insurance by placing their crypto in "qualified custodians" that bundle insurance coverage into their cold storage architecture:

• BitGo Trust Company: Offers institutional-grade multi-signature cold storage with specialized third-party client insurance policies covering digital assets in custody.
• Coinbase Custody: Utilizes offline, geographically distributed cold storage and maintains commercial crime insurance policies that cover a portion of digital assets held across its storage infrastructure.
• Anchorage Digital Bank: A federally chartered digital asset bank that provides segregated cold storage custody with backing from specialized markets like Lloyd's of London.
• Fidelity Digital Assets: Provides enterprise-grade offline cold storage tailored to institutional mandates, utilizing layered security and dedicated risk management.

3. Niche / Consumer-Facing Options

• Safe Deposit Box Insurance Company: Offers specialized physical policies that explicitly cover cryptocurrencies and hardware cold-storage wallets (like Ledger or Trezor) when kept inside a bank safe deposit box or private secure vault against disasters, robbery, and natural events.

If you are looking for coverage, are you trying to insure personal hardware wallets at home/in a vault or looking for a custodial solution for an institution or business?

Insurance for crypto assets held in cold storage (offline or air-gapped storage protecting private keys) is written by a specialized segment of the insurance industry. Because cold storage eliminates online hacking vectors, the risks insured shift toward physical destruction, loss of hardware media, insider theft, and secure vault compromise.

Coverage is provided through three main channels: specialized crypto underwriters, traditional "specie" insurance markets (which traditionally insure high-value physical assets like gold and diamonds), and major institutional custodians who bundle insurance into their storage fees.

1. Specialized Digital Asset Underwriters

• Evertas : A crypto-native insurance company dedicated to covering digital assets, blockchain infrastructure, and cold storage/custody risks against insider theft, physical loss, and damage.
• Relm Insurance : A specialty insurer writing custom policies for digital asset operations, covering comprehensive crime, custody risks, and cold storage requirements.
• Anchorwatch : A Lloyd’s of London coverholder specializing specifically in Bitcoin cold storage insurance via their physical "Trident" vault arrangements and multi-party co-signing infrastructure.

2. Traditional Insurance Markets & Broker Facilities (Lloyd’s of London Syndicates)

Much of the heavy financial backing for cold storage comes from syndicates at Lloyd’s of London , facilitated by top-tier global brokers:

• Marsh Specialty : Operates specialized digital asset facilities like Blue Vault , a consortium providing major coverage limits (up to $150 million per insured) specifically tailored for cold storage private key depositories.
• Aon : Places large commercial crime and specie insurance programs for major crypto custodians through global A-rated insurance groups and Lloyd’s syndicates.
• Munich Re : Offers customized digital asset protection addressing institutional custody and cold storage risks.

3. Institutional Custodians with Built-In Cold Storage Policies

If you hold crypto via an institutional custodian rather than buying a standalone policy yourself, the coverage is typically embedded into the custody agreement:

• Copper.co : Offers substantial base insurance capacity (up to $500 million) for digital assets kept in cold storage.
• Coinbase Custody / Prime : Maintains commercial crime and specialized insurance policies (often upwards of $320 million) covering assets in secure cold storage.
• BitGo : Provides primary specie insurance coverage (commonly around $250 million or packaged into larger custom towers) for offline cold storage vaults.

If you are looking for a policy, let me know:

• Are you looking to insure self-custodied cold storage (hardware wallets/private keys you hold yourself) or an institutional custodial account?
• What is the estimated value of the assets you are looking to cover?

I can help narrow down which route or provider fits your situation.

Yes. Insurance for crypto held in cold storage exists, but it is a specialized market—and the policy usually covers the custodian or a specifically named insured, rather than automatically covering a person’s self-custodied hardware wallet.

Some notable providers/programs are:

• BitGo — Its qualified-custody service uses 100% cold storage and advertises up to $250 million of insurance against specified loss, theft, and misuse when BitGo holds all the keys. The insurance is provided by a syndicate in the Lloyd’s and European markets.
• Marsh — Blue Vault — Marsh has developed specialty cold-storage insurance through the Lloyd’s market. Its Blue Vault facility can provide up to $150 million per insured and covers risks such as theft, destruction, or damage involving private keys in secure vaults.
• Lockton — LEAP Digital Asset Custody Insurance — Offers specialty custody insurance for digital assets in cold and, in some circumstances, warm storage, including physical destruction/theft of key-storage devices and theft or copying of keys.
• Aon Digital Assets — Aon arranges bespoke insurance solutions for digital-asset custodians and institutions. For example, Crypto.com announced $100 million of cold-storage coverage arranged by Aon through Lloyd’s underwriters.
• AnchorWatch — A Bitcoin-focused custody/vault provider offering optional Lloyd’s insurance, including structures designed around institutional custody and self-control of keys.

The important distinction

If you're asking, "I have $1M of Bitcoin on a Ledger/Trezor in my own safe—can I buy insurance against theft?", that's a different problem.

Most mainstream crypto insurance is structured around institutional custody, where an insurer can evaluate the vault, key-generation procedures, access controls, employees, physical security, etc. A normal homeowner's policy generally shouldn't be assumed to cover cryptocurrency simply because the device is in your house.

Specialty insurers/brokers can potentially structure coverage for self-custody, but underwriting requirements and premiums can be substantial. Marsh and Lockton are particularly relevant starting points for that type of inquiry.

Also, cold-storage insurance is not necessarily "Bitcoin price insurance." Policies generally address defined risks such as physical theft, destruction of key material, employee theft/collusion, or specified cyber/crime events. They normally don't insure you against BTC simply falling 50% in value.

If you tell me roughly how much crypto you want insured (e.g. $250K, $1M, $10M+) and whether it's personally self-custodied or held by a custodian, I can identify the most realistic insurance options and what they typically cover.

Insurance for cryptocurrency and digital assets held in cold storage (offline or air-gapped storage protecting private keys) is provided by a specialized sector of the insurance industry. Because cold storage is offline, policies typically fall under specie insurance (traditionally used for high-value physical items like gold, fine art, and cash vaults) or specialized digital asset crime/custody insurance.

The primary underwriters, brokers, and specialized firms providing or structuring cold storage insurance include:

• Lloyd’s of London Syndicates : Lloyd’s acts as the primary risk market for a large portion of institutional cold storage and digital vault coverage. Insurance brokers (such as Marsh, Aon, and Price Forbes) place massive consortium policies—like Marsh’s Blue Vault facility—through Lloyd's syndicates to cover cold storage physical destruction or key theft.
• Evertas : Known as the first crypto-native insurance company, Evertas underwrites comprehensive crypto risk, offering specialized digital property and custody coverage tailored directly to cold storage and institutional asset protection.
• RELM Insurance : A specialty insurer licensed to cover emerging digital asset risks, providing customized policy structures for institutional cold storage and custodial holdings.
• Anchorwatch : A specialized underwriting/insurance provider focusing heavily on Bitcoin-native custody and cold storage insurance, utilizing structured capital markets and traditional capacity (such as Lloyd's coverholders) to cover physical and cyber risks for hardware-stored assets.
• Coincover : Offers robust protection and disaster recovery infrastructure for digital assets spanning both hot and cold storage environments, frequently utilized by wallets and platforms to guarantee asset recoverability.
• Major Institutional Custodians (Self-Insured or Backed by Underwriters) : Large crypto custodians do not insure the assets themselves; rather, they purchase massive policies from the aforementioned markets to protect client funds. For instance, Copper carries high-limit cold storage policies (up to $500 million), Coinbase maintains commercial crime/specie policies upwards of $255 million to $320 million, and BitGo carries substantial primary specie coverage backed by global syndicates.

Note: Digital assets held with crypto custodians or exchanges—even in insured cold storage—are not backed by government safety nets like FDIC or SIPC insurance.

Are you looking for coverage for an institutional platform/custodian or an individual/self-storage hardware wallet setup , and what estimated asset value are you trying to protect?

Yes. Crypto held in cold storage can be insured, but the insurance market is specialized and the coverage is usually arranged through the custodian, broker, and specialist underwriters—not through a standard homeowners/business policy.

Some of the notable providers/custodians with cold-storage-related insurance include:

These figures and coverage descriptions come from current industry materials, but the headline insurance limit is not the same thing as the amount protecting your particular coins. Coverage can have sublimits, exclusions, deductibles, geographic restrictions, and conditions concerning how keys are generated, stored, accessed, and transferred.

An important distinction

If you mean “I hold my own Bitcoin in a hardware wallet/cold wallet—who will insure it?”, that's a substantially different market.

Traditional insurers generally don't provide a simple policy analogous to FDIC insurance. There are specialized products emerging for self-custody. For example, AnchorWatch offers Bitcoin custody with an optional Lloyd's of London insurance component.

If instead you mean “I want an institution to hold my crypto in cold storage and I want the assets insured,” the institutional-custody market is much more developed. Anchorage, BitGo, Coinbase Custody, Gemini, and others have insurance arrangements specifically designed around institutional digital-asset custody. Anchorage, for example, describes its coverage as extending across the entire custodial lifecycle rather than only assets sitting in cold storage.

One major caveat: crypto insurance is not FDIC or SIPC insurance. Anchorage explicitly states that digital assets in its custody aren't covered by FDIC or SIPC protections.

If you're asking because you want to insure a specific amount of Bitcoin/crypto in cold storage (e.g., $1M, $10M, or $100M), I can also identify the insurers/brokers that will actually quote that risk and explain what the premiums and underwriting requirements typically look like.

Yes. Insurance for crypto held in cold storage exists, but it is much more common for institutional/custodial cold storage than for an individual holding coins on a personal hardware wallet.

Some of the main providers/structures are:

• Evertas — a specialty insurer focused on digital assets. It provides coverage for custodians and other crypto businesses, including risks associated with digital assets held in cold storage.
• RELM Insurance — another specialty insurer active in digital-asset/custody risk, including cold-storage exposures.
• Lloyd's market — rather than being one single crypto insurer, Lloyd's syndicates have underwritten crypto custody policies. For example, institutional custodians have obtained crime/specie-style coverage for assets held offline.
• BitGo — primarily a qualified custodian rather than an insurer. Its institutional custody service keeps keys offline and includes insurance arrangements; this can effectively give a customer insurance through the custody relationship.
• Coincover — provides digital-asset protection infrastructure and works with institutions on key recovery/security; its offerings can involve insurance-backed protection, depending on the product.
• Nexus Mutual — offers cover for certain custody risks, but importantly, it is not a conventional insurance company. Its cover is discretionary and member-governed.

The important distinction

If you mean “I personally own $1–10 million of Bitcoin on a Ledger/Trezor and want an insurance policy against theft or loss,” the market is considerably more limited.

Traditional homeowners/renters insurance generally doesn't cover crypto losses, and specialty cold-storage insurance for self-custody is generally aimed at high-net-worth individuals and institutions and requires substantial security controls.

If instead you put the Bitcoin with an institutional custodian that uses cold storage, such as BitGo, the custodian can have an insurance policy covering specified theft/custody risks. That is generally the more practical route for significant holdings.

Also, don't assume that "insured" means your entire balance is protected against every conceivable loss. Policies commonly have per-event/per-customer limits, exclusions, deductibles, and specific definitions of theft and key loss.

If you tell me roughly how much crypto you're looking to insure (e.g. $250k, $1M, $10M+) and whether it's self-custodied or held by a custodian, I can identify the realistic insurance options and approximate pricing for that situation.

Insurance for crypto assets held in cold storage is provided through a combination of specialized crypto insurers, traditional insurance syndicates (like Lloyd's of London) , and institutional crypto custodians who bundle insurance directly into their storage services.

Because crypto in cold storage (offline/air-gapped private keys) faces unique risks—such as physical destruction of hardware, insider theft, or master key compromise—underwriters treat these offline assets similarly to high-value physical "specie" (like art, cash, and precious metals).

1. Dedicated Crypto Insurance Underwriters & Brokers

Specialized firms design bespoke commercial policies covering digital assets at rest in cold storage, often backed by global reinsurance markets:

• Evertas : A crypto-native insurance company providing comprehensive digital asset property and custodial liability coverage.
• RELM Insurance : An specialty underwriter providing coverage tailored to digital asset custody, cold storage, and blockchain operations.
• Marsh & McLennan : A major brokerage that structures custom cold storage insurance consortia (such as their Blue Vault facility via the Lloyd’s of London market) offering high-limit protection for digital vaults.
• Aon : Another leading broker that places specialized crime and specie insurance programs for institutional cold-storage depositories.
• Anchorwatch : Provides specialized, bitcoin-native cold storage insurance backed by traditional insurance markets.

2. Major Institutional Custodians (With Built-in Insurance)

If you do not buy a standalone policy, the most common way to secure insured cold storage is through a qualified institutional custodian . These firms hold private keys in ultra-secure, offline hardware security modules (HSMs) and maintain corporate crime/specie policies:

• Copper : Offers up to $500 million in baseline insurance for digital assets kept in cold storage.
• Fidelity Digital Assets : Provides institutional-grade cold storage backed by robust internal security and large-scale insurance capacity.
• Coinbase Prime / Coinbase Custody : Secures client assets with a commercial crime policy (often reported around $320 million), covering a portion of crypto held in their cold storage infrastructure.
• BitGo : Utilizes multi-signature and offline cold storage with primary specie insurance coverage typically around $250 million (and modular excess layers available).
• Gemini Custody : Maintains a dedicated $100 million cold storage insurance policy for the digital assets on its custody platform.

Important Distinction to Keep in Mind

• No FDIC/SIPC Protection: Digital assets held in cold storage—even with regulated or chartered custodians—are not covered by federal deposit insurance like the FDIC or SIPC. Private commercial insurance or specie policies secured by the custodian or institution are the sole financial backstop.
• Crime vs. Specie Policies: Standard cold storage policies are usually written as specie (protecting against physical theft, destruction of storage media, or employee collusion at the vault) rather than broad digital crime policies (which lean heavily toward online/hot wallet hacks). Always check whether a policy covers third-party hacks versus strictly physical/insider loss.

Are you looking to insure self-hosted cold storage (like a personal hardware wallet) or evaluating an institutional custodian for a business/fund ? I can provide more details on what specific policy types or coverage limits fit your situation.