Ah you are correct, FDIC/CDIC/etc do not in fact provide theft insurance, but you help with the point I was making though - Banks have been robbed for years, and individuals don't lose money when that happens (how could they? your deposit doesn't sit as cash somewhere waiting for you to claim it)
According to the FDIC, for most banks theft is covered by the banks insurance policy (they refer to it as a "banker's blanket bond") which also covers loss (of money) by fire, flood, and even things like embezzlement etc.
So until BTC exchanges/etc actually have insurance policies (literal policies, not figurative "insurance policies") the risk seems higher.
Also worth considering - I remember reading about a bit coin site that uses a Safe Deposit Box to store the majority of its holding "offline", but safe deposit boxes aren't insured by either FDIC (even in the event of bank failure) or by the bank, so if their safe deposit box is breached (either as a theft or just damage) there is no safety net.
According to the FDIC, for most banks theft is covered by the banks insurance policy (they refer to it as a "banker's blanket bond") which also covers loss (of money) by fire, flood, and even things like embezzlement etc.
So until BTC exchanges/etc actually have insurance policies (literal policies, not figurative "insurance policies") the risk seems higher.
Also worth considering - I remember reading about a bit coin site that uses a Safe Deposit Box to store the majority of its holding "offline", but safe deposit boxes aren't insured by either FDIC (even in the event of bank failure) or by the bank, so if their safe deposit box is breached (either as a theft or just damage) there is no safety net.