Experienced litigation solicitor and now professional liability underwriter Sarah Bowden, who is expecting an increase in demand for litigation liability insurance, will be leading Mosaic Insurance’s new after-the-event insurance product.
“It’s normal to experience a rise in litigation following economic turmoil, and this is inevitable in the wake of the significant disruption we have experienced over the last few years,” said Bowden, who practised as a litigator for 17 years and was most recently with Mills & Reeve in London.
She went on to note: “Unfortunately, insolvencies and liquidations are on the rise, affecting industries across the board. We expect this to fuel increased demand for litigation liability insurance, as liquidators look to recover assets while minimising their exposure to the risk of adverse costs.
“Other themes we can expect to see over the longer term are an increase in crypto-related litigation and concerns over ESG (environmental, social, and governance) issues. Since individuals were able to exploit changes in working practices and procedures at the height of the pandemic, we may also see an increase in civil fraud claims.”
Bowden’s comments come as Mosaic introduces litigation liability cover to provide financial protection against the risk of adverse legal costs when pursuing litigation or arbitration.
“We’re delighted to welcome Sarah to Mosaic and know her background in this sector aligns well with Mosaic’s appetite for complex specialty business requiring deep expertise,” commented Mosaic professional liability head Anna Jay.
“This class has high technical barriers to entry and strong underlying demand, so it provides the opportunity for us to demonstrate value to clients, brokers, and our syndicated trade-capital partners.”
Mosaic said typical coverage includes breach-of-contract claims, insolvency litigation, group actions/class claims, and competition claims.
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