I do not see a 'world's first': Elliptic does not offer insurance to customers but has to get insurance itself according to the published terms: 'Elliptic Vau

I do not see a 'world's first': Elliptic does not offer insurance to customers but has to get insurance itself according to the published terms: 'Elliptic Vault shall effect and maintain with a reputable insurance company a policy or policies of insurance providing an adequate level of cover in respect of all liability which may be incurred by Elliptic Vault under this Agreement or in respect of any loss of Stored Funds up to a value of the Specified Cover.' 'In the event of any claim against the insurance company by Elliptic Vault, in respect of any loss, damage or corruption of Stored Funds up the value of Specified Cover, any Stored Funds subject of the insurance claim will be valued at the average USD ask price offered on the Bitstamp exchange in the 24-hour period ending at 00:01 am GMT on the day on which Fees are payable, or on such other basis as the insurer may adopt from time to time.' https://www.elliptic.co/vault/terms https://www.elliptic.co/vault/terms Insurance coverage for data loss, data theft etc. is not new, on the contrary, it is quite common if you store digital data and do not plan to go bankrupt because of customers suing you …