Relm Insurance introduces a bespoke kidnap and ransom policy targeting executives in the cryptocurrency and cannabis sectors, addressing growing physical and online threats with crisis support and risk mitigation tools.
Relm Insurance has introduced a kidnap and ransom policy aimed at executives and companies in the digital asset and cannabis sectors, betting that demand for protection is rising as physical threats become more sophisticated. The Bermuda-based insurer said the cover is intended for a market that has often been left to rely on standard products that do not fit the realities of crypto wealth, cash-heavy cannabis operations and the personal security risks that can come with both.
The launch reflects growing concern around attacks on people linked to high-value digital holdings, with incidents in the US, UK and Europe featuring home invasions, coercion and ransom demands. Relm’s chief executive, Joseph Ziolkowski, said the product was built to help clients manage an increasingly volatile threat environment, combining insurance with crisis support and security advice. The company is positioning the offer not just as financial protection, but as a way to keep businesses operating when key people are endangered.
Relm said the policy was developed with a specialist security and crisis-response partner, giving policyholders round-the-clock access to response directors with more than 200 years of combined experience and a record of more than 1,600 incidents handled. The team is spread across several countries, including the US, Colombia, Mexico, the UK, France, Portugal, Nigeria and Spain, allowing it to deploy quickly across borders. The cover is designed to respond to kidnapping, extortion, threats, disappearance, virtual kidnapping, malicious detention, hijacking, hostage situations and emergency evacuations.
The policy also includes a 10% risk mitigation allowance for pre-incident support such as training, threat briefings and crisis planning. That emphasis on preparation reflects the different risk profiles of the two sectors: crypto figures can be exposed through public wallets, leaks or online doxxing, while cannabis operators may be vulnerable because banking restrictions often leave them handling large amounts of cash and securing valuable premises. Relm, which has made its name underwriting emerging industries, is extending that model into a corner of insurance where traditional carriers have been slow to follow.
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Source: Noah Wire Services
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