Lockton Launches New Custody Insurance Facility for Digital Asset Clients

Lockton, the world's largest independent insurance brokerage, is announcing the creation of a new, industry-leading custody insurance facility available exclusively to its digital asset clients. 

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Developed by Lockton's Emerging Asset Protection (LEAP) team in collaboration with leading global custody insurers, the facility is supported by Lloyd's syndicates, formed by one or more members joining together to provide capital and accept insurance risks, together with highly rated insurance companies. 

"Custody insurance plays a vital role in protecting consumer assets stored by third-party custodians and is an essential tool in the successful operation of many digital asset companies. Historically, securing that coverage has been difficult, often requiring complicated underwriting processes and the involvement of third-party surveys," said Neil Daly, head of Lockton UK's LEAP team. "Our new custody insurance facility makes it easier for companies operating in the digital asset ecosystem to build robust custody insurance programs, enabling them to better protect valuable digital assets and effectively serve their customers," he said.   

"This facility represents a step forward in insurance coverage for businesses in the digital asset custody space," said Sarah Downey, head of Lockton's global LEAP team. "Our LEAP team's deep partnerships with both insurers and clients and our continued investment in and focus on innovation in this space, further exemplifies Lockton's long-term commitment to helping the digital asset ecosystem continue to grow."