Aon partners on cryptocurrency cover – Business Insurance

Aon PLC is collaborating with Relm Insurance Ltd., a Bermudian specialist insurer, and Nayms Ltd., an insurtech platform for cryptocurrency investors insuring crypto risk, to offer coverage for cryptocurrency companies.

The collaboration will conduct a first pilot with Teller Finance, part of Teller Labs Inc., which uses its “algorithmic credit risk protocol for decentralized lending,” to place tokenized, or blockchain-enabled, insurance.

Benjamin Peach, associate director and digital assets specialist, Global Broking Centre at Aon, said in the statement the broker wants to developing products for a “growing client base in the digital asset space.”

Dan Roberts, CEO at Nayms, said the digital asset space is approaching $1 trillion.

Relm was launched in 2019 to provide “dedicated capacity for digital asset and blockchain businesses,” said Joseph Ziolkowski, CEO at Relm.