Is there insurance for clients funds in SMART VALOR custody Print

Modified on: Sat, 14 Nov, 2020 at 12:26 AM

Through the partnership with BitGo SMART VALOR provides its clients insurance against custody hack. This premium service is free of charge for customers of SMART VALOR.

This insurance covers up to 100'000'000 USD loss and is delivered through a syndicate of underwriters through the Lloyd's, the world’s specialist insurance and reinsurance market.

The insurance policy covers digital assets in the event of:

  • Third-party hacks, copying, or theft of private keys
  • Insider theft or dishonest acts by BitGo employees or executives

SMART VALOR partnered with BitGo due to the fact that BitGo is the supplier of the cold storage technology in bank-grade Class III vaults. Additionally the BitGo platform is SOC 2 Type 2 certified. Advanced authentication mechanisms are employed to ensure the authenticity of data. Assets and access are distributed geographically and organizationally.

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