Marsh introduces a new worldwide facility for digital asset custodianship.

Marsh has unveiled a groundbreaking new insurance solution tailored specifically for custodians of digital assets, with a focus on financial institutions. This cutting-edge offering provides up to $825 million in insurance coverage to Marsh's global clients, catering to organizations that store digital assets in cold storage or utilize Multi-Party Computation (MPC) and other custody technologies. Supported by Lloyd's syndicates and international insurers based in London, the insurance facility offers protection against various risks such as natural disasters, physical theft, and insider threats.

The timing of this launch coincides with a surge in interest in the digital asset custody space, driven by the growth and maturation of the digital asset market over the past decade. Marsh's 2023 global technology industry risk study highlights the increasing involvement of the technology sector in digital asset opportunities, with a significant number of banks exploring digital currency-related projects in the United States. This new insurance offering is the result of Marsh Specialty's Digital Asset team, based in New York and London, which specializes in providing risk transfer solutions for businesses operating in the blockchain, cryptocurrency, and digital asset space.

Jacqueline Quintal, global digital asset leader at Marsh Specialty, emphasized the importance of this new facility in helping organizations navigate the complex risk landscape of digital asset management. By aligning risk financing with commercial strategies, enhancing operational resilience, and strengthening market position, Marsh aims to support clients worldwide in maximizing their success in this rapidly evolving sector.