I quote the email:
eToro Insurance Policy
eToro is proud to announce the launch of an insurance program for its clients. Starting on 01.11.2020, all eToro users will enjoy an extra layer of protection at no extra cost, that will cover their losses in case of insolvency — up to 1 million Euro.
This insurance policy is another indication of eToro’s commitment to its users and their well-being.
About eToro’s Client Insurance:
The insurance is offered to all eToro clients absolutely free — no need to register or apply to receive it.
The policy serves as an additional layer of protection, in addition to those given by a liquidator and CySec.
The insurance is provided by Lloyd’s of London, one of the world’s leading providers of specialist insurance.
The policy covers up to 1 million Euro per client (subject to the applicable Clients’ Disclosure).
IBKR is also moving to European licenced brokers for it’s EU customers and would need to do something similar for it customers to bump up the EU average insurance of 20.000 EUR