Relm Insurance, a Bermuda-based specialty insurer, has launched a dedicated kidnap and ransom (K&R) insurance product tailored for the Web3 and cannabis sectors. The move addresses a new class of risk that traditional carriers have largely avoided, reflecting a sharp rise in physical threats against high-profile innovators in these frontier industries.
Rising Threats Drive Niche Insurance Demand
Recent data reveals that crypto-related violent attacks between 2024 and 2026 accounted for more than one-third of all violent incidents ever recorded in the sector, with hotspots emerging in the U.S., U.K. and France. Simultaneously, U.S. federal banking restrictions force many cannabis operators to handle large volumes of physical cash, making their facilities and personnel prime targets for organized crime.
“We are not just selling insurance; we are enabling operational continuity and personal safety in uncertain times,” said Joseph Ziolkowski, CEO and founder of Relm Insurance.
Product Features: Proactive Protection Beyond Reimbursement
Relm has partnered with a leader in personnel security to deliver more than financial compensation. The K&R solution provides immediate access to a security response team with over 200 years of combined experience in special forces, law enforcement and corporate intelligence, available 24/7.
Coverage extends to kidnapping, extortion, virtual kidnapping, malicious detention, and emergency evacuations due to credible threats. A unique feature is a 10% mitigation allowance that lets clients fund proactive training, security audits and crisis planning before any incident occurs. Multilingual security response directors are stationed across key regions including the U.S., Mexico, U.K., Nigeria and others, ensuring local threat assessments and rapid deployment.
Bridging the “Innovator’s Gap”
For years, the so-called “innovator’s gap” left tech and cannabis leaders exposed. Traditional insurers often lack specialized underwriting knowledge to price risks associated with “doxxed” crypto founders or the physical security requirements of a cannabis vault. By integrating pre-incident readiness—such as tailored threat awareness sessions and global exposure assessments—Relm is transforming insurance from a reactive safety net into a proactive shield.
Relm has been a pioneering force in crypto and Web3 insurance since its inception, launching the first bitcoin-denominated insurance policies. The firm also provides coverage for satellite launches, lunar missions, and the emerging psychedelic therapeutics market.