Mosaic Insurance has expanded its offerings with the launch of a primary technology errors and omissions (E&O) insurance product for firms specialising in products such as artificial intelligence, virtual reality, educational technology, IT consulting, data analytics, software as a service, and peer-to-peer platforms.
Yosha DeLong (pictured), global head of cyber at Mosaic, emphasized the interconnected nature of cyber threats and liability associated with technology, saying: “We understand how intrinsically linked cyber exposure is with technology-related liability, so we’re thrilled to now offer primary tech E&O in conjunction with our primary cyber product on a global basis.”
The primary tech E&O coverage, boasting a capacity of up to $15 million, has the backing of Mosaic’s Syndicate 1609 and a group of syndicated capital partners. Available through underwriting hubs in London, the US, Canada, Europe, and the UAE, the new coverage serves as a global blended product instead of being offered on an excess basis only.
James Tuplin, international head for cyber at Mosaic, highlighted the growing complexity and importance of technology, commenting: “Technology services and products are becoming ever more complex and, at the same time, integral to business, thereby increasing the risk and costs of software failure. We’re increasing our product suite to meet that demand and help clients best protect themselves from these growing digital risks.”
A hybrid specialty managing general agent, Mosaic is partnered with Safe Security, which integrates granular telematics into the MGA’s cyber underwriting process. Aside from cyber, Mosaic also underwrites transactional liability, political risk, political violence, environmental liability, financial institutions, and professional liability.
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