Interesting. It's good to see Coinbase setting the standard here. Of course, employee infidelity and hacking are just two ways that bitcoins could disappear.
What about physical theft? Summary says that the insurance covers losses due to physical security breach, so presumably physical theft is covered. Missed that in the summary.
What about natural disasters, fire, flood, etc.?
What about kidnap/ransom/extortion of employees?
What about lawful confiscation (usually not covered by policies)?
What are the actual limits of the policy?
Are the limits on a per-account basis (like the FDIC), per occurrence basis, or per policy period?
Was the policy designed to cover the type of hacking that allegedly occurred with Mt. Gox?
Setting the standard for what, deception? 97% of deposits are offline and therefore uninsured.
True. Policy limits on the hot wallets probably aren't more than a few million.
If cold storage is as safe as Coinbase claims, then it should be able to get a separate policy on the cold storage for a much lower premium per dollar of policy limits.