New Relm product suite to provide Web3 coverage
Relm Insurance, the Bermudian-based specialty insurance carrier supporting emerging and innovative industries, has released a product suite providing tailored, end-to-end insurance coverage for clients immersed in Web3 technologies.
With an established global risk portfolio and a proven track record of servicing hundreds of claims, Relm said, its latest offerings are driven by client demand and technological innovation.
The company said five distinct products directly address the nuanced risks faced by cryptocurrency exchanges, asset managers, technology developers, miners, token issuers, institutional staking providers and others.
Joseph Ziolkowski, Relm CEO and founder, said: "Given our deep experience in Web3, we now have the tool kit and IP to maximise the accessibility of the most important insurance coverages that companies operating in Web3 will need to scale their business.
"These new products illustrate our ongoing commitment to comprehensive and bespoke solutions for innovative companies."
Claire Davey, head of Product Innovation and Emerging Risk at Relm, said: "We took a consultative approach to creating these products, leveraging dialogue with our clients and practitioners to meet the idiosyncratic risk transfer needs of companies utilising Web3 technologies.
"We are proud of this product suite and believe that its thoughtful and specific approach will ensure the relevancy of the insurance industry in the landscape of rapidly evolving risk."
Relm said a flexible underwriting approach is taken with this proprietary product line-up, managed and serviced by an experienced, tech-forward team, with options to pay premiums in fiat or cryptocurrency.
The products are:
• SigmaWeb3: A specialist, multi-line package policy for organisations operating with Web3 technologies
• AlphaWeb3: Coverages for digital asset fund or investment managers
• NovaWeb3: Cyber and technology errors & omissions coverage for organisations providing Web3 technology services or products
• VistaWeb3: Digital and physical crime coverage for organisations holding digital assets
• AuraWeb3: Reimbursement coverages for organisations staking on the ETH 2 Beacon Chain
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