PriyaPatel
TLDR:
- Mosaic Insurance has launched a primary technology errors and omissions (E&O) insurance product
- The coverage has a capacity of up to $15 million and is available globally
The article discusses Mosaic Insurance’s new primary technology errors and omissions (E&O) insurance product aimed at firms specializing in technology-related products such as artificial intelligence, virtual reality, IT consulting, and more. The coverage, with a capacity of up to $15 million, is backed by Mosaic’s Syndicate 1609 and a group of syndicated capital partners. It is available through underwriting hubs in London, the US, Canada, Europe, and the UAE, providing a global blended product instead of being offered on an excess basis only.
Yosha DeLong, global head of cyber at Mosaic, highlighted the interconnected nature of cyber threats and technology-related liability, emphasizing the importance of offering primary tech E&O coverage alongside primary cyber insurance. James Tuplin, international head for cyber at Mosaic, noted the increasing complexity and importance of technology in businesses, stating the need for clients to protect themselves from growing digital risks.
Mosaic, a hybrid specialty managing general agent, is partnered with Safe Security to integrate granular telematics into its cyber underwriting process. In addition to cyber coverage, Mosaic offers underwriting for transactional liability, political risk, environmental liability, and more.
Overall, the launch of Mosaic Insurance’s primary tech E&O product expands its offerings to provide comprehensive coverage for technology-related liability and cyber threats on a global scale.
