Closing the Insurance Gap
The UAE Central Bank has approved new Web3 insurance solutions created by Relm Insurance and Liva Insurance. These solutions, SIGMAWEB3 and SIGMAWEB3 VARA (for companies regulated by the Virtual Assets Regulatory Authority), are designed to cover the unique risks of digital assets, blockchain, and fintech businesses in the UAE.
This approval shows that the UAE is focused on supporting new technologies. It also highlights the partnership between Relm Insurance and Liva Insurance, which was announced in February 2025. Their goal is to close the insurance gap faced by Web3 companies, which often struggle to find coverage that suits their rapidly changing needs.
The approval indicates that the UAE Central Bank has confidence in Relm and Liva to handle the complex risks of the digital asset industry. Joseph Ziolkowski, CEO of Relm Insurance, called it an important step, saying it will help businesses in the UAE get the right insurance to support their innovation in the fast-moving Web3 space.
Martin Rueegg, Group CEO of Liva Group, also praised the partnership, saying it would allow them to offer better insurance products to meet the needs of their customers while growing their business.
This approval signals that the UAE is becoming a leader in recognizing the insurance needs of the Web3 sector and is committed to supporting the growth of digital asset businesses.
