One of the world’s largest insurance brokers just made a bet that crypto needs better safety nets. WTW, the NASDAQ-listed advisory and solutions firm, has acquired Redefind, a UK-based platform specializing in digital asset insurance, and immediately launched a new protection service covering the costs of tracking down and recovering stolen or lost crypto.

The service operates on a non-custodial, cost-of-recovery basis. If your crypto gets stolen, WTW will reimburse you for the forensic investigations, asset tracing, and legal efforts needed to get it back. It won’t replace the value of your lost Bitcoin directly, but it will cover what it costs to hunt it down.

What Redefind brings to the table

Redefind launched in July 2025 with a fairly specific niche: making digital assets insurable when most of the insurance industry still treated them like radioactive waste. The platform is FCA-regulated and backed by A+ rated insurers from Lloyd’s of London.

The platform’s core innovation is its use of cryptographic proof of ownership to verify insured assets. Rather than relying on documentation and self-reporting, Redefind leverages the blockchain’s native capabilities to confirm that a policyholder actually owns what they claim to own, across different custody arrangements, whether that’s a hardware wallet, an exchange account, or a multi-sig setup.

Redefind’s founders, Richard Daws and Connor Edward, have joined WTW following the acquisition. The financial terms of the deal were not disclosed.

Why a major insurer is moving into crypto now

The initial rollout will focus on the UK market, with WTW planning expansion into other regions and additional product lines after that. Starting in the UK makes strategic sense given Redefind’s existing FCA regulation and Lloyd’s backing, both of which provide a regulatory and institutional foundation that would need to be rebuilt from scratch in other jurisdictions.

What this means for investors

The non-custodial nature of the coverage is particularly notable. Most existing crypto insurance products are tied to specific custodians, meaning you’re only covered if you store your assets with a particular provider. WTW’s service covering assets across different custody arrangements removes that constraint, which is significant for users who spread their holdings across multiple wallets and platforms as a security measure.