Relm unveils artificial intelligence products

Specialty insurer Relm Insurance Ltd. Tuesday launched three artificial intelligence insurance products to meet what it called rising demand.

NOVAAI is a cyber and tech errors and omissions policy that could be suitable for AI-based product and service companies that have a liability and cyber security exposure, Relm said in a statement.

PONTAAI is an excess difference in conditions wrap policy for organizations with third-party liability exposure due to their AI use or development.

RESCAAI is a first-party response policy for organizations that use third-party AI for business operations and organizations that embed third-party AI solutions within their own products.

Joseph Ziolkowski, CEO and founder of Relm, said in the statement the new products help address the “unique” risk exposures posed by evolving and emerging AI use.