Insurance
Policy types and cover provided
Zodia Custody utilises insurance as a strategic tool for risk management. Additional insurance, which is specific to crypto asset crime, has been separately acquired by Zodia Custody and covers custody operations.
A summary of our insurance coverage can be found here and spans crypto asset crime, cyber insurance, crime & civil liability, directors’ and officers’ liability and public liability (general liability).
Digital Assets Crime Policy
Indemnity
USD 55M for any one loss and in the total for the period
Self retention
USD 250,000 each loss
Cover provided
Cover for Direct Loss that results from Theft, hack, damage or destruction of Digital Assets by any person (other than an identifiable Employee) whilst under the Insured’s Care, Custody and Control.
Cyber Insurance Policy
Indemnity
USD 200m for any one loss and in total for the period
Self retention
USD 10m each loss
Cover provided
Cover for incident response, retrieving/storing data or computer programs, loss as the result of Cyber Extortion, legal costs and liability incurred as the result of a regulatory investigation, or third-party claim following a Cyber incident, allegation of intellectual property rights and the increased costs associated with continuing business operations following a Cyber breach.
Combined Crime & Civil Liability (CCL)
Indemnity
USD 19.5M for any one loss and in total for the period
USD 200M for any one loss and in total for the policy period
Self retention
USD 500,000 each loss
USD 75M each loss
Cover provided
Crime policy includes coverage for Loss resulting from:
- Fidelity (Employee Fraud)
- Physical loss of property (incl. Money)
- Forged Instruments
- Extortion
- Computer & Telephonic misuse
Civil Liability includes claimants or defence costs arising from the provision of or the failure to provide services.