Insurance in it's basic for is nothing more than selling fear.
Fear that a loss may be incurred in the future.
How many cars have accidents, houses burn down or crypto gets 'lost'.
In the bigger picture it would appear that the cartle are trying t gain a foot hold into the coin world, first witha JPM coin, and now with 'insurance'.
What is wrong with their plan, is how does an individual prove they held certain key?
Will those keys need to be shown when policy is taken out?
And if so who will secure those keys against a hacker of the insurance company?
Who will actually be able to make a claim & have it paid out?
https://www.ccn.com/mike-novogratz-backed-bitgo-offers-100-million-in-crypto-insurance