CandleFocus Relm Insurance Introduces BTC-Denominated Policy for Bitcoin Miners
2024-10-03
Author: Content Editor
Relm Insurance, a Bermuda-registered insurer, has introduced a new policy called BTC Business Interruption Insurance, which covers bitcoin miners for periods of business interruption. What sets this policy apart is that it is denominated in bitcoin, making it the first of its kind. The aim of the policy is to provide financial protection to bitcoin miners against losses caused by operational interruptions due to physical damage to equipment or facilities. Relm is able to offer indemnification in bitcoin thanks to its license from the Bermuda Monetary Authority. This new policy comes at a time when bitcoin mining companies are facing challenges such as the halving of block rewards and selling pressure on bitcoin's price.
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