Relm Insurance, a specialty insurer for emerging and innovative industries, is rolling out a fresh suite of products built for companies working in the space economy, a market that keeps adding entrants faster than insurers can sketch risk maps.
The launch stretches from early-stage operations to businesses running mature space-based services.
Brokers wanted something more adaptable, and Relm decided it was time to push out a stack that moves with the tech rather than lag behind it.
Relm is introducing two new specialized offerings:
- OMEGASPACE: a combined financial, professional, and cyber tech policy for enterprises using space-based signals, data, and analytics to provide services to their clients.
- NOVASPACE: a bespoke errors and omissions (E&O) policy for firms in the space supply chain.
Two core offerings anchor the set. OMEGASPACE folds financial, professional and cyber tech cover into one policy for enterprises that rely on space-driven signals, data and analytics to serve their customers.
It targets firms whose exposure doesn’t sit neatly in any single silo because their operations run through orbit-dependent infrastructure.
NOVASPACE, meanwhile, is a customised E&O solution for companies in the space supply chain. Hardware makers, component specialists, ground-segment contractors – all of them deal with failure modes that can’t be dumped into generic tech E&O.
Relm also opens its SIGMA product suite to space firms, letting them bolt on additional protections as their models mature. And just to clear the air, Relm says NOVASPACE has no link to the European aerospace analysis firm of a similar name.
Relm’s CEO and founder, Joseph Ziolkowski, says the timing isn’t random. He points to growth forecasts that look more like hockey sticks than industry curves.
Launch-vehicle and launch-site revenue could jump from $13 bn to $32 bn by 2035. Ground-station capacity may expand fivefold in the same window, and satellite deployment rates keep accelerating in ways that push legacy underwriting to its limits.
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
According to our data, the rapid scaling of these segments pressures companies to lock in resilient cover early, before they hit bottlenecks created by narrow policy forms.
Ziolkowski argues the new suite gives brokers and clients room to stay ahead of those bottlenecks. The products aren’t static – they’re meant to shift with the tech stack, the regulatory climate and the pace of commercial launches.
Insurance for this sector used to trail the engineering. Relm thinks it can flip that script, and maybe it’s right, given how quickly demand is rising from firms betting their future on space-powered infrastructure.
Relm’s product suite is designed to meet and mitigate structural challenges in the space economy:
- Supply chain resilience within the spacecraft manufacturing industry, covering failures of technology that may have knock-on effects including delay and missed launch.
- Under-insurance among smaller satellite operators.
- Data integrity risk for businesses that rely on space assets to provide critical services to their terrestrial customers.
- Cyber exposure across ground and network infrastructure.
Relm’s model blends data-informed assessment with broker-led distribution for an approach that ensures access to reliable capacity and coverage clarity.
“Legacy insurance models assume siloed risk. In space, that doesn’t work. Exposures overlap across hardware, software, launch, and data,” said Andrew Bonwick, Relm’s VP of Product Development.
With OMEGASPACE, NOVASPACE, and SIGMA we’ve built products that mirror how companies actually operate. This makes it easier for brokers to structure protection that fits their clients’ realities.
He added, “Our aim is to make insurance an enabler of progress. If a company adds new payload capacity or a downstream data service, its coverage can evolve without friction.”
