TLDR:

Key points:

• Mosaic Insurance introduces primary technology errors and omissions (E&O) coverage to safeguard tech companies.
• The primary tech E&O coverage offers protection against various technology-related liabilities and complements existing cyber offerings.

Article Summary:

Mosaic Insurance, through its cyber division, has introduced primary technology errors and omissions (E&O) coverage to protect tech companies from increasing liability risks. This new coverage offers robust protection against a range of technology-related liabilities, including artificial intelligence, IT consulting, and software as a service (SaaS). The primary tech E&O coverage complements Mosaic’s existing cyber products, providing clients with comprehensive coverage on a global scale.

This move aims to address the rising liability risks faced by tech companies in today’s digital landscape. With a capacity of up to $15 million, Mosaic’s primary tech E&O coverage is accessible through underwriting hubs in key regions such as London, the US, Canada, Europe, and the UAE. The integration of granular telematics, facilitated by a partnership with tech pioneer Safe Security, enhances the underwriting process by offering real-time insights into cyber breach risks.

Yosha DeLong, Mosaic’s Global Head of Cyber, emphasized the importance of understanding the link between cyber exposure and technology-related liability. By offering primary tech E&O coverage alongside primary cyber products on a global basis, Mosaic aims to provide necessary solutions to clients and partners. James Tuplin, Mosaic’s Head of International, Cyber, highlighted the increasing complexity of technology services and products, emphasizing the need for expanded product suites to help clients protect themselves from digital risks.

Additionally, Mosaic Insurance provides coverage for other specialty lines of business, including transactional liability, political risk, political violence, environmental liability, financial institutions, and professional liability. The introduction of the primary tech E&O coverage underscores Mosaic’s commitment to addressing evolving risks faced by tech companies in the current digital environment.