Insight

Relm launches insurance solutions for cryptocurrency and cannabis businesses

London, 3 March 2020

Relm, the innovative insurer of emerging business categories, is today proud to be officially launching the start of operations. The new business, which is led by CEO Joe Ziolkowski and Operations VP Keyla Roman, is owned by Deltec International Group.

Relm will service the insurance needs of business sectors which are new to the economy but are likely to become significant economic drivers over time. In the first instance, it will focus on digital asset (cryptocurrency) enterprises and cannabis and hemp related businesses. In the future, Relm plans to offer insurance solutions to new sectors as diverse as digital banking, the sharing and gig economy, autonomous vehicles and AI.

The first five product areas that Relm will initially offer are:

— Tailored Digital Asset Custody (DAC) insurance program for digital asset custodians and/or service providers that provide short-term digital asset custody 

— Directors and officers’ liability for cannabis/hemp businesses and digital asset businesses including a private company product with coverage for token issuances and alternative Side A solutions

— A miscellaneous professional liability cover that can be tailored to accommodate service providers and advisors in various capacities within both the digital asset and cannabis/hemp spaces.

— Cyber cover for emerging business sectors

— Commercial Crime for emerging business sectors

— Currently in development for the cannabis and hemp space are insurance products for living plant coverage and bailees exposure

Joe Ziolkowski CEO of Relm said:

Our focus is on providing insurance coverage to solid companies in emerging business sectors. We truly understand how challenging it can be to get affordable cover and great business support, which is why Relm’s proposition to the marketplace is so critical.”

“We’re thrilled to be a disrupter in the insurance industry through our bespoke insurance solutions that support innovators in digital assets and the cannabis and hemp industries. More importantly, we’re in a position to support the growth of these industries and are working closely with brokers and businessowners to arrive at optimal solutions. We have a strong new business pipeline for our first four products and will be building out new covers and sector specific insurance products in the coming months. Deltec’s backing has been outstanding and we are confident of a successful start to our underwriting through 2020.”

Ty Sagalow, Founding Member of Lemonade Inc. and Independent Non-Executive Director of Relm Insurance, Ltd. said:

“I am proud to be asked to be on the board of Relm as it steps up to offer relevant insurance products to emerging business sectors. My experience with Lemonade has demonstrated just how ready the market is for new approaches to insurance and I am confident that Relm’s focus on today’s emerging risks will ensure success for its brokers and insureds.”

Relm

Relm is a specialist insurance business focused on providing comprehensive insurance solutions for new and emerging business sectors and categories. Its initial product offerings have been created for the digital asset and cannabis production industries. Relm is owned by Deltec International Group, which also provides underwriting capacity. The business is led by CEO Joe Ziolkowski.

For more information:

Sam Whiteley Free Partners +44 (0) 207787 545529