Your bitcoin's first protection is how it's held. Three institutions protect your bitcoin. No one of them can lose it, move it, or use it, and nothing moves without your permission. It takes two of the three (Onramp, BitGo, and CoinCover) to move it, and you never hold a key, a seed phrase, or a hardware wallet.
That removes the single point of failure. A breach, failure, or insider at any one institution isn't enough to move or lose your bitcoin.
Separately, Onramp maintains custody insurance through Canopius, a Lloyd's of London syndicate: up to $50M in aggregate coverage across our custody operations. Onramp pays the premium.