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Relm Insurance is bringing a new suite of insurance products designed for space economy customers. These products will aim to equip brokers and clients with coverage that strengthens business resilience from early-stage development through to established technologies. Relm Insurance announced the new product offerings Dec. 3.

The company is introducing two new specialized offerings: OMEGASPACE and NOVASPACE. OMEGA SPACE is a combined financial, professional, and cyber tech policy for enterprises using space-based signals, data, and analytics to provide services to their clients. NOVASPACE is a bespoke errors and omissions (E&O) policy for firms in the space supply chain. Relm has also opened its SIGMA product suite to the space economy. The NOVASPACE product from Relm Insurance is not associated with the European aerospace analysis firm, Novaspace.

“We’re seeing a wave of new entrants in the space sector as companies push the boundaries of data, connectivity, and infrastructure. Launch vehicles and launch site operations alone are projected to triple revenue from $13 billion to $32 billion by 2035. Ground station capacity is projected to expand fivefold while satellite deployments accelerate at an unprecedented pace. Our suite of space insurance products give companies and brokers the resilience they need with risk solutions that evolve as fast as the technologies they support,” Joseph Ziolkowski, CEO and Founder, Relm Insurance, said in a statement.