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?
Their statement is actually very vague and very limited. I wouldnt rely on this insurance.... And especially since coinbase is staying very quite about the bitlicense ordeal, Im starting to put less and less trust in them. I dont even use their service anymore and am eagerly waiting for my circle invite.