Updated: February 14, 2022 9:44 PM
Assurely of Bermuda, the insurance agency that is a wholly-owned subsidiary of insurtech company Assurely, has announced an expansion of the group’s TigerMark directors and officers insurance program in conjunction with Bermuda-based Relm Insurance Ltd.
The company said this new managing general agent relationship continues TigerMark’s momentum over the past few years and underscores Assurely’s commitment to providing protection to private companies raising capital through online platforms and portals. online via Reg A, Reg CF and Reg506 (c) offers.
Assurely said the relationship with Relm further illustrates a commitment to the market, doubling the capacity available through the TigerMark D&O insurance program and offering higher limits to companies raising capital.
Adding to TigerMark via Relm also provides more comprehensive and traditional D&O insurance coverage options to protect against exposure beyond fundraising.
The company said TigerMark’s expansion comes at a crucial time as global crowdfunding grew from $8.61 billion to $113.52 billion between 2020 and 2021, driving the need for higher limits. and the expanded appetite of businesses and projects.
Assurely’s relationship with Relm, combined with its previously announced relationship with Great American Insurance Group, speaks to the strong market support provided to TigerMark, the company said.
The additional capacity and expanded coverage of Relm Insurance Ltd enables Assurely to strengthen its stakeholder support and continuously support the crowdfunding industry’s contribution to the future economic growth of the country (USA).
Ty Sagalow, Chief Insurance Officer and Co-Founder of Assurely, said, “The crowdfunding industry is experiencing rapid growth which is generating an acute need for increased risk protection for start-ups and ventures.
“Growing through our agreement with Relm, TigerMark’s enhanced capability fully supports the risks these businesses face, making the industry and its stakeholders safer.
“At Assurely, we’re excited to provide the only D&O insurance that properly meets the needs of stakeholders within an industry that shapes how people invest and how businesses start.”
Joe Ziolkowski, CEO of Relm Insurance Ltd, said, “We are delighted to support the protection offered by TigerMark and to be part of the positive impact it is having on the crowdfunding industry.
“This program will allow companies to raise technology capital for the first time so they can grow and scale, unlocking huge opportunities and new business platforms. This aligns with Relm’s mission to energize emerging venture companies to implement their strategy and grow.
Ty Sagalow, Chief Insurance Officer and Co-Founder of Assurely
Joe Ziolkowski, CEO of Relm Insurance Ltd