underwriting

Insuring Gold Reserves Just Got Even Harder amid Rising Price

Some of the largest gold storage companies in the world are facing an insurance nightmare. As the price of gold increases, the amount that can be stored and insured at any single location has fallen, forcing companies to juggle gold bars, according to a Bloomberg report. The problem isn’t space—there’s plenty of space to house all the world’s gold. The problem is the insurance. One Lloyd’s underwriting company, QBE European Operations, is reportedly willing insure up to $150 million in gold in any single vault, but not more than that.