Specialty insurer Relm Insurance Ltd. announces an expansion of its strategic fronting partnership with Trisura Specialty Insurance Company, enabling the Bermuda-domiciled carrier “to provide capacity in support of AM-Best rated paper for U.S. digital asset risks.”
Trisura, rated A- by AM Best, claims it is “a leading international specialty insurance provider operating in the surety, risk solutions, corporate insurance, fronting and reinsurance segments of the market.”
The full-fronting agreement with Trisura will “span Relm’s book, enabling the carrier to provide U.S. digital asset businesses with a range of Financial and Professional Lines and specialty coverage solutions (including D&O, Cyber, Tech E&O, Crime, and more) on AM Best rated paper.”
Howden Broking Group will “serve as the reinsurance broker.”
Relm is licensed and “regulated by the Bermuda Monetary Authority and holds an ‘A, Exceptional’ Financial Stability Rating from Demotech, Inc., a Nationally Recognized Statistical Rating Organization (NRSRO) serving the insurance industry.”
Launched in 2019 to address the scarcity of insurance capacity available to emerging industries, Relm is a “provider of insurance solutions to the global digital asset space.”
Drew Taylor, VP of Financial and Professional Lines at Relm, said:
“We’re thrilled to collaborate with Trisura — one of the most trusted names in insurance — to enhance our underwriting capacity and scale our product offerings across the US. The ability to offer AM Best-rated paper is a significant milestone for Relm, and will allow us to continue delivering exceptional solutions for our broking partners and insureds.”
Joe Ziolkowksi, CEO & Co-Founder of Relm, said:
“Our fronting partnership with Trisura presents a solution for one of Relm’s most important objectives: accessibility. Partnering with Trisura will make it easier than ever for insureds to access our capacity as we continue to build our team, serve our broking partners, develop market-first products, all in support of our mission of bringing resilience to innovation.”
Michael Beasley, President and CEO of Trisura, said:
“We’re excited to expand our partnership with Relm. Relm has demonstrated the ability to manage a rapidly growing portfolio of digital asset risks. We consistently seek to partner with top-tier carriers, and Relm’s experience through a period of unprecedented turbulence across the digital asset ecosystem is a testament to its strong underwriting discipline and technical expertise.”
In addition to the fronting agreement with Trisura, Relm has “fortified its product offerings through several other recently-announced partnerships.”
In November, the carrier announced “a strategic partnership with cyber-risk analytics platform CyberCube to strengthen its cyber underwriting capabilities with advanced machine learning and artificial intelligence.”