March 2, 2020 Lloyd’s of London to underwrite hot wallet insurance on behalf of Coincover.

Coincover, a crypto asset service provider, has secured Lloyd’s as its insurance underwriter for its hot wallet service. Lloyd’s, through its syndicate Atrium, is now responsible for insuring users against funds lost through hacks. This recent development is part of a wider strategy by Lloyd’s to increase its presence in the crypto asset market, following its agreement to underwrite Kingdom Trust, a custody provider, in August 2018.