Big moral hazard problem. I'm sure someone would write a policy that covers social engineering attacks (and I would say arguably the Hartford policy also should

Big moral hazard problem. I'm sure someone would write a policy that covers social engineering attacks (and I would say arguably the Hartford policy also should cover this loss). But the loss limit, as with the Hartford policy, would be so low compared to the risk as to render it largely useless. I mean come on, I have a higher loss limit on my freakin car insurance than BitPay has to cover their hot wallet balance. To date, as far as I am aware, insurers will only write policies to cover small losses on hot wallet balances. Most of the big exchanges and processors are probably well-capitalized enough that they could in effect self-insure against such a loss. And the larger magnitude risk of a deeper-level intrusion, or flat out physical robbery of the private key components for cold wallets, is not insurable.