Client agreement and custody policy
Which document specifies duties, responsibilities, service description, communication methods, authentication, security systems, fees, applicable law, and the custody policy?
Source-backed answer block
Regulation (EU) 2023/1114 Article 75 requires CASPs providing custody and administration of crypto-assets on behalf of clients to conclude a client agreement, maintain custody policies and position records, segregate client assets, and address responsibility where crypto-assets or means of access are lost. Article 67 separately frames prudential safeguards through own funds, insurance, comparable guarantees, or a combination.
The useful insurance question is therefore not “does MiCA require this policy?” The useful question is: can the CASP explain custody duties, controls, loss scenarios, vendor dependencies, client terms, and evidence quality before asking a broker or market to assess risk?
Article 75 custody evidence questions
Segregation, records, and return procedures
How are client positions recorded, reconciled, segregated from the CASP estate, and returned to clients or access holders after normal requests, outages, or incidents?
Access control and key-management model
Who can initiate, approve, recover, or block movements of client crypto-assets or means of access, and what technical and governance evidence supports that model?
Outsourcing and third-party custody
Which vendors or sub-custodians touch custody operations, what responsibilities remain with the CASP, and how are incident notices, audit rights, and service levels evidenced?
Incident and loss-scenario history
What near misses, outages, unauthorized access attempts, reconciliation breaks, or client complaints have occurred, and what remediation evidence exists?
Article 67 prudential safeguards link
How does the custody risk story connect to own funds, insurance, comparable guarantees, or a mixed prudential-safeguard route without overstating what any policy can do?
Broker or market diligence packet
Before asking for terms, assemble a short custody-risk memo, client agreement excerpt map, custody policy, control owner list, incident log summary, vendor dependency map, business-continuity evidence, and a clear explanation of what client assets or means of access the CASP safeguards or controls.
This page is a preparation aid for source-backed conversations with qualified counsel, brokers, insurers, and internal risk owners. It is not a recommendation, endorsement, or advice to buy any specific product.