Relm Insurance Launches Web3 Product Suite

April 7, 2024 | 0 Comments

Relm Insurance introduced a new product suite customized for clients in Web3 technologies.

A spokesperson said, “Relm Insurance [Relm], a leading specialty insurance carrier supporting emerging and innovative industries, today announced the release of a novel 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’s latest offerings are driven by client demand and technological innovation. Today’s announcement introduces five distinct products directly addressing the nuanced risks faced by cryptocurrency exchanges, asset managers, technology developers, miners, token issuers, institutional staking providers, and others.”

“Given our deep experience in Web3, we now have the tool kit and IP to maximize the accessibility of the most important insurance coverages that companies operating in Web3 will need to scale their business,” said Joseph Ziolkowski, Relm CEO and Founder. “These new products illustrate our ongoing commitment to comprehensive and bespoke solutions for innovative companies.”

“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 utilizing Web3 technologies,” said Claire Davey, Head of Product Innovation & Emerging Risk at Relm.

The spokesperson said, “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.” 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 organizations operating with Web3 technologies.
  • AlphaWeb3: coverages for digital asset fund or investment managers.
  • NovaWeb3: Cyber and Technology Errors & Omissions coverage for organizations providing Web3 technology services or products.
  • VistaWeb3: Digital and physical crime coverage for organizations holding digital assets.
  • AuraWeb3: Reimbursement coverages for organizations staking on the ETH 2 Beacon Chain.

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