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Do you believe the usual insurance programmes will not help in the event of a hack?

https://us.etrade.com/l/f/asset-protection

Basically everyone has $500k insured in their trading account. Are you concerned about people with more than that, or concerned that it wouldn't cover hacking?

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FDIC payouts are extremely rare. As far as I know, it only kicks in if the entire bank fails. I don’t think it covers fraud.

Having said that, I’d be surprised if E Trade were not legally required to cover losses in the event of account break ins, regardless of what their customer agreement says.

It would not be absurd for normal people to have > $500k in their retirement accounts, especially if they are close to retirement.

I am guessing you mean 500k cash. Regardless, I'm not sure if your point holds. If I have $1m in stocks, and my account is hacked, the stocks are sold, and the money funneled out, am I protected?

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