AUSTIN, Texas--(BUSINESS WIRE)--Assurely of Bermuda, a wholly-owned subsidiary of Assurely, announced an expansion of the group’s TigerMark™ Directors and Officers (D&O) insurance program (TigerMark), in collaboration with the Bermuda-based ‘A (Exceptional) rated’ Relm Insurance Ltd. This new Managing General Agent (MGA) relationship continues TigerMark's momentum over recent years and underscores Assurely’s commitment to offer protection to private companies raising capital via online platforms and portals through Reg A, Reg CF, and Reg506(c) offerings.
The relationship with Relm further illustrates a commitment to the marketplace, doubling the capacity available through the TigerMark D&O insurance program, and offering higher limits to those companies raising capital. The addition to TigerMark through Relm also provides more comprehensive and traditional D&O insurance coverage options to protect against exposures beyond the capital raise.
Expansion of TigerMark comes at a crucial time when global crowdfunding has grown from $8.61 billion to $113.52 billion between 2020 and 2021, resulting in the need for higher limits and the broadened appetite of companies and projects.
Assurely’s relationship with Relm, combined with its earlier announced relationship with Great American Insurance Group, evidences the strong marketplace support provided to TigerMark. The added capacity and expanded coverage from Relm Insurance Ltd. allows Assurely to strengthen its support of stakeholders and continuously support the crowdfunding industry’s contribution to the nation’s future economic growth.
"The crowdfunding industry is experiencing rapid growth that is generating an acute requirement for protection against the increased risks for startups and projects. By expanding through our agreement with Relm, TigerMark’s strengthened capability fully supports the arising risks these companies face, making the industry and its stakeholders safer," said Ty Sagalow, chief insurance officer and co-founder of Assurely. "Here at Assurely, we are excited to provide the only D&O insurance that properly meets the needs of stakeholders within an industry that is shaping how individuals invest and how companies begin."
“We are excited to support the protection TigerMark provides and to be a part of the positive impact it has across the crowdfunding industry,” said Joe Ziolkowski, CEO of Relm Insurance Ltd. “This program will allow businesses to raise tech-enabled capital for the first time so they can grow and scale, opening up huge opportunities and new business platforms. This aligns with Relm’s mission to energize emerging risk businesses to execute on their strategy and grow.”
About Assurely
World Trade Labs, Inc. d/b/a Assurely creates and distributes insurance products for changing industries and innovative companies. Created by prominent insurance leaders, Assurely’s accomplished team and technology are adept at building, providing, and executing precise, cost-effective insurance coverage for businesses and marketplaces, small and large. For more information about how Assurely is changing the insurance industry, visit www.assurely.com.
About Assurely of Bermuda
World Trade Labs of Bermuda dba Assurely of Bermuda is an insurance agency licensed and regulated by the Bermuda Monetary Authority. World Trade Labs of Bermuda is a wholly-owned subsidiary of World Trade Labs, Inc.
About Relm Insurance Ltd.
Domiciled in Bermuda, Relm Insurance Ltd. (Relm) is a global insurer that provides unique insurance solutions for new and emerging business sectors with a focus on the crypto /blockchain and cannabis industries. Relm is the world’s leading insurance provider to the crypto sector and is currently the only insurer globally to hold Bermuda’s IIGB License which enables the business to accept premiums and pay claims in cryptocurrency. Relm has been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech. Relm is owned by Deltec International Group and was founded by CEO Joe Ziolkowski.
