Relm Taps Web3 Cyber Security Leader CyVers for Comprehensive Suite of Security Measures
Tuesday, July 23, 2024
HAMILTON, Bermuda, July 15, 2024 /PRNewswire/ -- Relm Insurance ("Relm"), a leading specialty insurance carrier supporting emerging and innovative industries, today announced a venture with CyVers, a leading Web3 cybersecurity and threat insights provider, to deliver comprehensive and real-time protections for its client base.
The CyVers platform was built to address complex security challenges such as scams, fraud, and compliance threats unique to Web3. The platform features a comprehensive monitoring system that proactively alerts clients to malicious activities, offers risk mitigation via multiple threat vectors, and provides tailored solutions based on idiosyncratic needs.
Securing access to real-time wallet and smart contract monitoring, among other threats, creates a tangible value add for our partners and ultimately lowers the insured's risk profile," said Christian Davies, Global Head of Distribution and Innovation at Relm. "By melding VistaWEB3, our market-leading crime insurance product, with CyVer's best-in-breed technology, we continue to deliver the most relevant products for our Web3 clients."
The addition of CyVers technology will better protect Relm clients from security risks including suspicious funding, malicious contract deployment, smart contract vulnerabilities, flash loan attacks and private key leakage. Additionally, the technology flags and prevents scams such as suspicious approvals, blacklist interaction, rug-pull and zero transfer attacks.
"Our alliance with Relm Insurance and their VistaWEB3 crime insurance product, is a testament to the increasing importance of robust cybersecurity and threat mitigation in the Web3 domain," said Deddy Lavid, CEO and Co-Founder of CyVers. "Together, we are setting new standards in protecting digital assets and providing real-time threat detection, ensuring that Relm's clients can operate with confidence in the rapidly evolving Web3 space."
Specialized products that Relm clients will be able to plug into include:
-- VigiLens: real-time cross-chain threat intelligence
-- AddressShield: real-time monitoring and detection of proprietary and
3(rd) party addresses
-- CyVers SOC: proactive threat detection & incident response
-- Address Due Diligence: Real-time screening of wallets and smart
contracts for risk assessment and mitigation
This new feature for Relm clients comes on the heels of a recent product launch dedicated to the crypto community with a Web3 product suite, catering to every facet of the ecosystem.
About Relm Insurance
Relm Insurance Ltd. (Relm) is a Bermuda-domiciled specialty insurance carrier supporting emerging industries that spur innovation and next-generation technologies. Launched in 2019 to address the scarcity of insurance capacity available to these high-growth markets, Relm plays an active role in bolstering the resilience of these innovative industries.
Relm's unrivaled industry expertise and solutions-driven track record makes it a highly sought-after risk partner for businesses and institutions operating at the forefront of Web3, digital assets, AI, biotech, and the space economy. Relm has earned a Financial Stability Rating of A, Exceptional, from Demotech.
Visit www.relminsurance.com for more information.
Media Contact:
Vaibhav Kumar, RFB | Peaks Strategies
vaibhav.kumar@rfbinder.com
View original content:https://www.prnewswire.com/news-releases/relm-taps-web3-cyber-security-leader-cyvers-for-comprehensive-suite-of-security-measures-302196044.html
SOURCE Relm Insurance
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