Insurance company Relm introduces a fresh offering
Relm Insurance, a leading insurer for emerging and innovative industries, has made a significant stride in the fintech sector with the launch of its new insurance products, OMEGA FINTECH and NOVA FINTECH. These products aim to eliminate coverage gaps within streamlined policies for financial innovators.
OMEGA FINTECH is designed for companies that deliver financial services through technology, offering comprehensive coverage for tech and AI liability, cybersecurity events, errors and omissions (E&O), regulatory investigations, financial crime and fraud, management liability, and 24/7 incident response team access.
NOVA FINTECH, on the other hand, is tailored for fintech enablers, companies that build, supply, or power financial technologies without offering financial services themselves. It includes all OMEGA FINTECH protections, minus financial services and management liability.
These new offerings are a response to industry demand and are designed to solve the problem of costly gaps in coverage and uncertainty at claim time that modern fintechs face due to their reliance on fragmented insurance from legacy providers.
Joseph Ziolkowski, CEO and Founder of Relm Insurance, stated that these new products help fintechs close critical gaps and build resilience where it matters most. Claire Davey, Relm's Head of Product Innovation and Emerging Risk, mentioned that the products were developed based on research and stakeholder engagement, reflecting the reality of how modern fintechs operate.
In addition to these fintech-focused products, Relm Insurance has also announced the release of BTC Business Interruption Insurance (BTC BI), a product tailored for Bitcoin mining. This latest product is aimed at the employer market and addresses capacity scarcity.
Relm Insurance has also cemented its commitment to address capacity scarcity with its Comprehensive Employment Practices offering. The Side A Difference in Conditions (DIC) solution, another bespoke offering by Relm, was created for clients that have specific needs.
For more information about OMEGA FINTECH and NOVA FINTECH, visit: Relm Insurance's website.
- Relm Insurance's new insurance products, OMEGA FINTECH and NOVA FINTECH, are specialized for companies in the fintech sector, providing coverage for tech and AI liability, cybersecurity events, errors and omissions, regulatory investigations, financial crime and fraud, management liability, and incident response team access.
- OMEGA FINTECH is targeted at companies delivering financial services through technology, while NOVA FINTECH is designed for fintech enablers who build, supply, or power financial technologies without offering financial services themselves.
- The innovation in these products is a response to the need for solutions to costly gaps in coverage and uncertainty at claim time faced by modern fintechs, who typically rely on fragmented insurance from traditional providers.
- To cater to the Bitcoin mining industry, Relm Insurance has introduced the BTC Business Interruption Insurance (BTC BI), a product aimed at the employer market that addresses the capacity scarcity in this sector.
