Relm partners with cybersecurity provider
Bermuda-based digital re/insurer Relm insurance has agreed a partnership with cybersecurity provider CyVers.
The specialty insurer, which provides insurance to digital and fintech companies, said Cyvers will deliver comprehensive and real-time protections for its client base.
It said 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," the company said.
Christian Davies, global head of distribution and innovation at Relm, added: "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.
"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 attack.
"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."
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.
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