I am not ready to believe such a services. In my country, there are no such insurance options for covering my bank saving accounts or my trading accounts. Why this service is taking responsibility for exchanges and web wallet providers whereas real life insurance companies are not able to do so (or at least in my country).

I was entering to this discussion like imagining typical insurance services which is also accepting major cryptos for buying policies and for paying premiums. But, this sounds like non-realistic as it will not be possible to cover our BTC holding by an insurance company. I guess they have messed up by without analyzing how a basic insurance coverage works.