Is Bybit insured?

I'm curious to know, is Bybit insured? As someone who's considering investing in cryptocurrency, it's important for me to ensure that my funds are protected in the event of any unforeseen circumstances. Can you provide any information on the insurance coverage that Bybit offers, if any? And if so, what types of risks are covered under their insurance policy? Additionally, how does this insurance compare to other cryptocurrency exchanges in the market?