Evertas is the only insurance company built exclusively for cryptocurrency underwriting — staffed by former Lloyd's specialists who understand key management, custody architecture, and crypto-specific attack vectors. This 2026 review covers their products, who they serve ($5M+ institutions), and comparison to AnchorWatch and Coincover.
Most insurance companies that cover Bitcoin are generalists — Lloyd's of London syndicates that write digital asset policies alongside marine cargo and aviation. Evertas is different. It's a company built exclusively to underwrite cryptocurrency and blockchain risks, with underwriting expertise that no generalist insurer can match.
This review covers what Evertas insures, who it's designed for, how it compares to generalist insurers, and whether it's right for your Bitcoin holdings.
Evertas was founded in 2017 by J. Gdanski and Tom Gillespie — veterans of Lloyd's of London with deep expertise in specialty insurance. The company redomiciled from the US to Bermuda in 2021 and operates under Bermuda Monetary Authority (BMA) regulation.
Evertas's stated mission: become the world's leading cryptocurrency insurance company by developing underwriting expertise that allows proper risk assessment of digital asset custody, protocols, and validators — rather than simply applying traditional financial institution policy forms to a fundamentally different asset class.
Evertas has three primary product categories:
Covers Bitcoin and other digital assets held in custody against:
This is the core product — and the most relevant for institutional Bitcoin holders.
Covers losses from:
This product targets DeFi protocols and blockchain infrastructure operators, not individual Bitcoin holders.
Covers staking validators (primarily Ethereum and proof-of-stake networks) against:
For Bitcoin-only holders: Custody insurance is the only relevant Evertas product.
When a generalist insurer writes a crypto custody policy, they're often applying modified financial institution bond (FIB) or crime policy language to a risk profile they don't fully understand. The result: narrow coverage, broad exclusions, and claims disputes.
Evertas's underwriters have specific expertise in:
This expertise allows Evertas to write more precise policies — covering the risks that actually exist while underwriting them accurately rather than charging blanket premiums for risks that don't apply to a given custody setup.
Evertas policies are bespoke — there's no standard product available on a self-serve basis. Each policy is structured through brokers and involves:
Minimum coverage amounts: Evertas is primarily an institutional insurer. Practical minimum policy sizes start at $5-10 million in coverage — meaning this is not a product for individual holders with $100,000 in Bitcoin.
Target clients:
Not designed for:
| Provider | Target | Min Coverage | Self-Custody | Specialty |
|---|---|---|---|---|
| Evertas | Institutions ($5M+) | ~$5-10M | Yes (reviewed) | Crypto-native underwriters |
| AnchorWatch | Individuals/businesses | ~$250K | Yes (multisig native) | Bitcoin-only, Taproot multisig |
| Coincover | Individuals/SMBs | ~$10K | Limited | Recovery + insurance bundle |
| Bitgo insurance | BitGo clients | Per custody | No (BitGo custody only) | Through Lloyd's |
| Coinbase custody ins. | Coinbase clients | Per custody | No (Coinbase custody) | Through Lloyd's |
AnchorWatch is the right product for serious individual Bitcoin holders with six-to-seven figure holdings. It's specifically designed for the COLDCARD multisig self-custody workflow.
Coincover is better for retail users on exchanges who want basic theft protection.
Evertas is for institutions. If you're managing $5M+ in Bitcoin as a fund, a corporate treasury, or a custody business, Evertas's specialized underwriting expertise is worth exploring.
Evertas's Bermuda domicile is strategic. Bermuda has a sophisticated insurance regulatory framework specifically designed for specialty and reinsurance markets — the BMA (Bermuda Monetary Authority) has experience regulating complex insurance programs.
Operating from Bermuda also gives Evertas access to global insurance markets for capacity — they can write large policies by accessing reinsurance capacity from multiple international carriers.
Evertas has been operational since 2017 but as a specialty insurer, detailed claims data isn't publicly available. The company has emphasized their underwriting rigor — implying they're more selective about which risks they write rather than selling policies broadly and resolving disputes at claim time.
For institutional buyers, the broker relationships and references from existing clients (exchanges, custodians) provide the primary due diligence signal.
Evertas works through insurance brokers specializing in financial lines and specialty risks. If you're an institutional Bitcoin holder exploring coverage:
Direct outreach to Evertas is also possible for qualified institutional clients.
Evertas is the most technically sophisticated Bitcoin insurance underwriter in the market. For institutional clients who need real underwriting expertise rather than a generalist policy with broad exclusions, Evertas is worth pursuing.
For individual Bitcoin holders: AnchorWatch is your product. For retail users on exchanges: Coincover. For institutions with $5M+ in Bitcoin custody: Evertas should be in your insurance broker's market submission.
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