[ad_1]
Mosaic Insurance’s cyber division has launched excess capacity and coverage for a new product aimed at protecting technology sector companies from fast-moving liability risks.
The insurer ranges from AI, virtual reality, edtech and IT consulting firms to data analytics companies, software as a service (SaaS) and peer-to-peer platforms.
The new product is underwritten by Mosaic’s Syndicate 1609 with the capabilities of both Mosaic and partner carriers.
At the same time, the product will be available globally through Mosaic’s cyber centers in London, Bermuda and the US, and will have a minimum anchor point of $10 million.
It also indemnifies Tech E&O against costly liability or loss resulting from third party use of products or services.
Yosha DeLong, Mosaic Global Head of Cyber, said, “We are excited to announce our cyber strategy and product delivery process as we expand into technology E&O. Technology’s E&O and cyber over-delivering capabilities are focused on providing our customers with essential solutions to the challenges they face in an increasingly interconnected world.
James Tuplin, global head of cyber at Mosaic, added: “I’ve been writing tech E&O for 15 years and while today’s headlines are focused on cyber, so is the demand for tech companies to buy protection. Customers and brokers are asking for more capacity, but can’t get it. We’re excited to support them with the new excess capacity we’re bringing to market.
[ad_2]
Source link
