London market · Digital-asset firms
Specie for cold storage. Crime for hot wallets. D&O for the people who sign. Znobia connects digital-asset firms with the FCA-authorised brokers and Lloyd's carriers who arrange and underwrite that cover — and tells you, up front, what the market won't write.
The gap
The risks are new. The market that prices them is over 300 years old.
There is roughly $3.31 trillion in digital assets; about one in nine of it carries insurance. The other 89% is uninsured — not for lack of appetite, but for lack of access. The capacity exists at Lloyd's: finite, aggregation-constrained, and written by a handful of syndicates who demand to see your controls before they price.
Znobia knows which ones — and connects you with the FCA-authorised brokers and syndicates who write it, on terms a serious buyer respects. See what you can cover
Coverage — the placement file
Specie, crime and D&O are real, placeable markets — arranged by the FCA-authorised brokers we connect you with. Smart-contract and DeFi cover is a data-deficit line carriers largely avoid; we'll tell you what's insurable today and what isn't.
Protects high-value, hard-to-replace assets held in secured locations — digital assets in cold, offline storage. Responds to theft, loss, physical damage and destruction at the vault, and to employee dishonesty. The static portion of the wallet, where the largest balances sit.
Read the line
Responds where assets move or sit online — warm and hot wallets, transfers and transit. Theft, internal and external fraud, social-engineering loss and electronic theft. Structured with specie so no link in the custody chain is left uncovered.
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Protects founders, directors and officers personally — regulatory action, investor disputes, alleged wrongful acts. Side A for individuals, Side B for the company's indemnity, Side C for the entity. Under evolving regulation, the cover that protects the people, not just the wallets.
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Ronin lost ~$624M to five compromised validator keys. Bybit lost ~$1.5B from a hot wallet. We map your custody and treasury surface to the ways value actually leaves — and connect you with the broker and line built for each. The dotted path is the smart-contract gap the market can't yet price.
Pressure-test your exposureYou talk to people who understand custody architecture — not a call centre reading from a script.
Operational controls, custody model and exposure — through a structured submission we actually read.
We connect you with the FCA-authorised broker and carriers built for your risk; they structure the programme and return indicative terms in plain language.
The authorised broker arranges and binds the cover. You get clear wordings, a named contact, and a claims-notification path that works.
Why Znobia
Insurance that doesn't pretend crypto is just another SME.
— The Znobia principle
No brochure language. If something needs a real underwriter or counsel, we say so.
It changes which market you're in. Cold storage is offline and air-gapped, and sits in the specie market — extended from bullion and fine art to digital assets. Hot wallets are internet-connected and sit in crime/fidelity. Hot-wallet cover costs more, because connected wallets face greater hack and insider-collusion exposure.
Typically physical destruction of storage media (fire, flood, natural peril), physical theft of devices, and theft or copying of private keys in cold storage or in transit, under a specie policy. Hacking, fraudulent transfer and insider theft fall under crime/fidelity. The exact triggers live in the policy wording — which we read with you before you bind.
Only partly. Traditional carriers largely avoid it because of a data deficit — there isn't enough actuarial loss history to price protocol exploits. The main route today is decentralised cover (e.g. Nexus Mutual). For a specific protocol, the honest answer needs a real underwriter — and we'll get you one rather than promise blanket cover.
On asset value, the limit you need, your custody model, security controls, regulatory and jurisdictional quality, and loss history. Strong controls and higher deductibles lower the rate; very large limits often need syndication or reinsurance. Indicative rates are underwriter-led — we don't invent a number.
Cold-storage facilities now reach up to $825M (Marsh) and $150M per insured via Lloyd's Blue Vault. But total market capacity is finite and aggregation-constrained, so high limits are built across multiple syndicates — lead line first, following lines signed down.
Multi-signature M-of-N schemes, withdrawal whitelisting, MPC key-sharding, hardware security with GPS/CCTV, segregated custody, and sound governance. Demonstrable risk management is the single biggest lever on your rate — controls are the conversation.
Commonly: smart-contract / DeFi protocol failure (unless a specialist line), war and state-actor acts, proven fraud, and — for crypto D&O post-FTX — broad crypto and regulatory exclusions. We surface the exclusions that matter to your model up front; the exact schedule is underwriter-set.
We're a specialist introducer. We don't arrange the contract, advise on it or carry the risk — we connect you with the FCA-authorised brokers who arrange and advise, and the regulated insurers and Lloyd's syndicates who underwrite. Our value is knowing exactly who writes digital-asset risk and getting you in front of them, prepared.
Because this is a hard, capacity-constrained, data-poor line, and roughly 89% of digital assets are uninsured for lack of access, not appetite. Most firms can't find the brokers who actually write it. We know who does, and connect you to the right one — fast.
Tell us how you operate. We'll return a structured view of what's coverable — in plain language, same business day.