individual IB deposit insurance: contacts anybody?

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hello all, i am (very) interested in insuring my (corporate) ib account covering cash in excess of the standard sipc insurance.

i am starting off with an equity deposit of around usd 1m and would be very grateful if somebody could put me in touch with insurance brokers that would possibly be able to insure cash of, say, up to usd 5m on an annualised basis?

i have been studying the various posts on the forums here and picked up a couple of ballpark numbers (as in something like a 10bps annual premium, or one k per one m insured - which seems fair) but so far only got a direct offer at around 5k per one m - which seems excessive?

if anyone has faced a similar problem and/or has any experience with private deposit insurance then please do get in touch: i would be interested in signing a contract within the next couple of weeks...

thanks in any case and happy trading!
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i remember back in a day there was a clause in agreement saying that customer can obtain additional insurance from LLoyds. maybe that what you can try first? just a thought..let us know about your progress. i'm interested in it too.

Thank you!
 
This is from IB's website. You're automatically covered for more than the first $1M of cash without charge.

"Customer securities accounts at Interactive Brokers are protected by the Securities Investor Protection Corporation ("SIPC") for a maximum coverage of $500,000 (with a cash sublimit of $250,000) and under Interactive Brokers' excess SIPC policy with certain underwriters at Lloyd's of London for up to an additional $30 million (with a cash sublimit of $900,000) subject to an aggregate limit of $150 million. Futures, and options on futures are not covered. As with all securities firms, this coverage provides protection against failure of a broker-dealer, not against loss of market value of securities."
 
Quote from Hurricane:

This is from IB's website. You're automatically covered for more than the first $1M of cash without charge.

"Customer securities accounts at Interactive Brokers are protected by the Securities Investor Protection Corporation ("SIPC") for a maximum coverage of $500,000 (with a cash sublimit of $250,000) and under Interactive Brokers' excess SIPC policy with certain underwriters at Lloyd's of London for up to an additional $30 million (with a cash sublimit of $900,000) subject to an aggregate limit of $150 million. Futures, and options on futures are not covered. As with all securities firms, this coverage provides protection against failure of a broker-dealer, not against loss of market value of securities."
More...

as discussed with ib itself, for any practical purposes the excess sipc coverage is meaningless for an individual account: from what i understand we are talking aggregate limit of usd 150m for ALL ib customer accounts... so an individual account is effectively protected for up to usd 500k (assuming sipc coverage applies and you can prove that you had a genuine interest in trading securities as opposed to futures, cf the other threads on this subject) but beyond that you are left at your own risk... hence my quest for additional insurance.
 
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