Breach

Breach Insurance is a Boston-based specialty underwriter and insurtech for crypto, founded in 2019, holding a Bermuda IIGB insurance licence and operating as an MGA and TPA in the United States. It fills the protection gap in custody: when an exchange is breached or private keys are destroyed, customer assets have no deposit insurance behind them. Crypto Shield Pro covers custodians and corporate balance sheets up to USD 10 million per policy against theft, loss or destruction of private keys; Crypto Shield is the retail product, embedded through Coinbase, Gemini, Binance.US and CoinList, covering more than 20 assets up to USD 1 million per policyholder. Capacity comes from Relm and Trisura, rated A- by A.M. Best, policies are issued on Boost's insurance infrastructure and can be embedded in a custodian's onboarding and renewal flow, with free on-chain wallet monitoring attached.

Its role is risk carrier rather than capital pool: unlike parametric mutual cover such as Nexus Mutual, it uses licensed insurance and reinsurance. Cover is limited to assets held with qualified custodians, self-custody wallets and smart-contract exploits fall outside the policy, and the retail product is sold in selected US states.