Relm Insurance Ltd, the pioneering specialty carrier domiciled in Bermuda, has entered into a strategic partnership with NetDiligence, the cyber-risk management firm.

Relm, which serves innovative industries, said the partnership would deliver a suite of cyber-risk monitoring solutions to policyholders via automated enrolment through NetDiligence’s eRiskHub.

"Effective cyber-risk management is no longer optional -- it's essential. As cyberthreats continue to evolve, our policyholders must stay one step ahead to protect their businesses and reputation,” said Donavan Burgess, senior vice-president and underwriter of digital assets, cyber and professional lines at Relm.

“That's why we're proud to announce the addition of NetDiligence's eRiskHub to our comprehensive cyber-risk policy.

“With its up-to-the-minute data and powerful educational tools, eRiskHub empowers our policyholders to understand and manage their unique cyber-risk exposures, develop a robust cyber readiness plan, and minimise the devastating impact of a breach.”

Mark Greisiger, president and CEO of NetDiligence, said: “Our team and our solutions are dedicated to making cyber-risk management easier for everyone involved in the process of mitigating modern-day cyber-risk.

“From policyholders to cyber insurance professionals, the eRiskHub portal helps those at the forefront of cyber defence to stay razor-sharp as the cyber threat landscape evolves.”

The eRiskHub is a comprehensive platform that offers a wide range of proactive (preventive) and reactive (recovery) information, education, and services. The platform is designed for the prevention, reporting, and recovery of losses caused by cyber incidents.

Relm policyholders will have access to up-to-the-minute cyber-risk information and powerful features such as:

• Incident response guidance: provides suggested steps to take following an incident and access to a breach response team

• News and learning centre: best-practice articles, white papers, webinars, cyber-risk stories, security, and compliance blogs, and risk management events

• Risk manager tools: costs calculators, policy templates, a guide to state breach notification laws, and free self-assessment design to help manage cyber-risk

• eRisk resources: free online security training courses and directory to quickly find external resources with expertise in pre and post-breach disciplines.

The eRiskHub portal can be accessed from any desktop, tablet, or mobile device.

“Resources like the eRiskHub will be crucial moving forward as insurers like Relm strive to continually educate policyholders about the risks their organisations face,” said Mr Greisiger.

Relm, which is licensed and regulated by the Bermuda Monetary Authority, serves emerging industries, with a focus on digital assets/Web3.0, cannabis and psychedelics.