Marsh unveils digital asset facility backed by Lloyd’s

Marsh LLC said Tuesday it has launched a global facility providing up to $825 million in capacity for digital asset custodians, including financial institutions.

The facility, which is available to Marsh clients globally, will provide coverage to organizations with digital assets held offline – known as cold storage. Coverage is also available for companies that have assets secured by multiparty computation, or other custody solutions that do not operate entirely offline.

Backed by various Lloyd’s of London syndicates and London-based international insurers, the facility provides digital asset custodians with coverage for risks related to physical natural perils, third-party physical theft and internal collusion by employees responsible for secure storage.

The facility was developed by Marsh Specialty’s digital asset team in New York and London.