On its official Twitter handle, Ledger announced its attainment of crime insurance policy covering digital assets secured by the Ledger Vault platform. Ledger is a leading international security and infrastructure solutions company for virtual assets and blockchain-based applications.
Ledger Vault, on the request of its clients, started this program, which follows the rigorous evaluation process of the firm’s hardware and software security infrastructure along with its governance policies. It started working on this project last year in association with a prominent broker and risk advisor, Marsh and Arch Insurance (UK) Limited (Arch), which is a lead underwriter of crypto-asset insurance.
Ledger Vault platform is currently offering a customized crime insurance package to insure crypto assets up to USD 150 million. The company also gives the freedom to add new digital assets to the policy coverage as and when required.
With this, the digital security platform does not need to take digital asset insurance, as custodians, banks, and exchanges are bound to take. The insurance is provided to the clients at no additional cost, alleviating the customers from undergoing the rigorous and long-drawn process of evaluation for obtaining the insurance for their individual assets.
Global Head of Ledger Vault, Demetrios Skalkotos, said:
The combination of Ledger Vault’s secure hardware and software operating systems, along with our governance protocols, allowed Marsh and Arch to expand standard cold storage coverage to the Ledger Vault solution. The policy also covers the clients’ onboarding process, their personal security devices and the secure encrypted communication channel that is established when using the Vault platform. This unique policy is a true end-to-end solution that gives our customers the flexibility to both store and move funds without compromising on security and governance.
Ledger Vault, founded in 2014, is the unit of Ledger that deals with the security of digital tokens and blockchain applications. It has a team of over 200 highly specialized professionals. Ledger designs products and services for the safeguard of virtual assets of individuals, businesses and connected devices.