Lloyd’s of London Relationship

BDIC is pursuing coverholder status with Lloyd’s of London, one of the world’s most recognized and trusted insurance markets. A coverholder designation grants BDIC specialized authority to assess and underwrite complex risks in the cryptocurrency insurance sector on behalf of Lloyd’s syndicates. As Jeffrey Glusman, CEO of BDIC, has stated: obtaining coverholder status with Lloyd’s represents a pivotal step in establishing a structured, reliable insurance framework for this emerging market.

What “Coverholder” Means

A Lloyd’s coverholder is a company authorized by a Lloyd’s syndicate to enter into contracts of insurance on their behalf, within the terms of a binding authority agreement. The Lloyd’s syndicate structure allows multiple insurance entities to collaborate and provide comprehensive coverage for high-risk and innovative market segments. For BDIC policyholders, this means your coverage operates within a framework that meets Lloyd’s global standards for risk assessment, claims handling, and financial solvency — bringing institutional-grade credibility to cryptocurrency wallet insurance.

Compliance Approach

BDIC’s underwriting and onboarding process is built on a strict KYC and AML framework coupled with established insurance industry guidelines. All applicants go through BDIC’s proprietary risk assessment protocol before being approved as policyholders. BDIC maintains a traditional cash reserve fund alongside a Bitcoin allocation and a pledged 33% BDIC coin reserve from its total supply of 1.6 billion coins — providing a multi-layer financial backstop behind every policy. BDIC takes extreme measures around KYC, whale positions, and rug-pull prevention to protect both policyholders and coin holders.

Verification Process

Policyholders are verified through BDIC’s underwriting process, which evaluates wallet eligibility, custody arrangements, and digital asset holdings. Only BDIC-qualified custodians and BDIC-approved wallets are eligible for coverage.

Currently approved hardware wallets: Ledger Nano X, Trezor Model T, Ledger Nano S Plus, SafePal S1, KeepKey

Currently under review: MetaMask, Phantom, Trust Wallet, and other browser-based wallets

BDIC-approved exchanges: Binance, Kraken, OKX, KuCoin, ByBit, Crypto.com, Huobi Global, Bitstamp, Bitmex, WhiteBit, MEXC Global, Bitget

Protecting Policyholders

BDIC’s insurance products cover exchange hacks, smart contract failures, ransomware attacks, social engineering fraud, hot wallet compromises, and cold storage breaches. BDIC does not provide custodial services — your assets remain in your control at all times. Insurance coverage provides a financial safety net without requiring you to relinquish ownership or access to your digital assets.

Ready to protect your cryptocurrency? Join the BDIC insurance waitlist to be first in line when coverage plans go live.