Relm Insurance, a Bermuda-based specialty insurer, has launched a dedicated kidnap and ransom (K&R) insurance product tailored for the Web3 and legal cannabis sectors. The move addresses a growing class of physical security risks that traditional insurers have largely ignored, responding to a surge in violent incidents targeting high-profile innovators in these frontier industries.
Rising Threats Drive New Insurance Demand
Recent data highlights a dramatic escalation in violent crime against crypto and cannabis executives. Between 2024 and 2026, crypto-related attacks accounted for more than one-third of all violent incidents ever recorded in the sector, with hotspots concentrated in the United States, United Kingdom, and France. In the cannabis industry, federal banking restrictions force many operators to handle large volumes of physical cash, making their facilities and personnel prime targets for organized criminal groups.
“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. The product is designed to close what the industry calls the “innovator’s gap,” where tech and cannabis leaders have been left exposed due to traditional insurers’ lack of specialized underwriting knowledge.
Product Features and Security Integration
Relm has partnered with a leading personnel security firm to deliver more than just financial reimbursement. 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. Clients can reach multilingual security response directors stationed across the U.S., Mexico, U.K., Nigeria, and other regions around the clock.
Coverage extends to kidnapping, extortion, virtual kidnapping, malicious detention, and emergency evacuations due to credible threats. A key differentiator is the 10% mitigation allowance, which allows clients to fund proactive training, security audits, and crisis planning before any incident occurs. This transforms insurance from a reactive safety net into a proactive shield.
Relm integrates pre-incident readiness measures, including tailored threat awareness sessions and global exposure assessments, addressing risks that traditional insurers struggle to price—such as the physical security of a cannabis vault or the dangers of a “doxxed” crypto founder.
A Pioneer in Frontier Insurance
Since its inception, Relm Insurance has been a trailblazer in crypto and Web3 insurance, issuing the first bitcoin-denominated insurance policies. Its portfolio also covers satellite launches, lunar missions, and the burgeoning psychedelic therapeutics market. The new K&R product further solidifies Relm’s position as a leader in insuring high-risk, high-growth industries, offering a model that could reshape how the insurance industry approaches physical threats in the digital age.