Many crypto exchanges and custodians have for years been unable to get insurance or shied away from getting it because of high premiums stemming from a dearth of insurers willing to underwrite the industry’s risk. Some big exchanges have chosen to insure themselves instead.
But that is slowly changing, as the traditionally risk-averse insurance industry—from big brokers to new startups—dips its toes into the water by setting up new teams focusing on cryptocurrency, hoping to profit from the industry’s rapid growth.
Source: Insurance Providers Rethink Their Approach to Crypto – WSJ
