By Lee Harris
Financial Times, London
Monday, February 16, 2026
Soaring gold prices are prompting some vault operators to leave larger values of bullion uninsured, as their holdings approach the limits of available cover, insurance brokers have told the Financial Times.
Barry Vickery from broker Howden said that although cover for a single storage location had risen from an average $3 billion maximum a few years ago to as much as $5 billion, the historic gold rally was changing industry behaviour.
... Dispatch continues below ...
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Some vaults were moving reserves between sites, insurance brokers said, as they hit the limits of cover for a single location, while specialist gold transport services were buying more insurance.
Vickery said more operators were also taking a "self-insurance position, where they feel comfortable that the security measures they have in place allow for them to hold that value."
Self-insurance by custodians was not new, said Paul Martin from broker Marsh, but had become more common driven by rising prices. ...
... For the remainder of the report:
https://www.ft.com/content/c5160af2-3a59-41a2-9948-84566019f4f4 [4]
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