Relm Insurance, the Bermudian-based specialty insurance carrier supporting emerging and innovative industries, has announced a venture with CyVers, a Web3 cybersecurity and threat insights provider based in Israel, to deliver comprehensive and real-time protections for its client base.

Relm 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.

"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 CyVers' best-in-breed technology, we continue to deliver the most relevant products for our Web3 clients."

The company said 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.