At Rand, we have integrated a comprehensive insurance solution into the application, providing coverage of up to $500 million designed to protect your accounts against various risks. In collaboration with Copper's ClearLoop, we ensure that your assets are safeguarded against threats such as cyberattacks, operational errors, and more, giving you the confidence and peace of mind when using Rand.
Protection against Cybersecurity Threats:
ClearLoop acts as a shield against cybersecurity threats, from hacking to malicious activities. You will be covered against unauthorized access to your accounts or phishing attacks, ensuring the security and integrity of your assets.
Coverage against Operational Errors:
Even the most advanced systems can face technical issues or downtime. ClearLoop extends coverage to operational errors, ensuring that your assets remain protected against unforeseen technical challenges.
Risk Mitigation with Third-Party Custodians:
Acting as a buffer, ClearLoop reduces risks associated with third-party custodians or external service providers, whether managing or facilitating your digital assets, providing you with peace of mind.
Protection against Smart Contract Failures:
ClearLoop intervenes to provide coverage in case of smart contract failures resulting from code vulnerabilities or malicious exploitation, mitigating unintended consequences or losses.
While the insurance coverage is comprehensive, there are certain scenarios and factors that may not be covered, such as user negligence (sharing credentials or falling for scams), and losses resulting from regulatory changes in the fintech and digital asset landscape. These cases may not benefit from Copper's insurance protection.