By Bernews3
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Mosaic Expands Financial & Cyber Coverage
Mosaic Insurance has customized its blended financial and cyber coverage for the North American and Bermuda investment sector, offering up to $20 million capacity per risk in a new modular form.
A spokesperson said, “The company launched its blended investment management insurance [IMI] product last year and has now enhanced the offering for US, Canada and Bermuda investment managers, investment funds, fund of funds, superannuation and pension fund managers, and alternative investment managers, including hedge funds. The product brings together financial institutions [FI] coverage and cyber insurance, the latter now including first- and third-party coverages, along with tech errors and omissions protection.”
“This coverage offers a customized approach for investment managers when purchasing their IMI and cyber insurance,” said Tom Dilley, Mosaic’s Global Head of Financial Institutions. “Risk exposures for investment managers are evolving rapidly and claims can often be complex and straddle policy coverages; this allows a single solution with bespoke features.”
A spokesperson added, “Amid economic challenges of market volatility and elevated interest rates, the IMI form caters to the diverse needs of the investment industry in a single policy—including professional liability, directors and officers [D&O], crime, and cyber coverages for managers and their funds. Clients can choose fully blended or standalone limits available on a modular basis.”
“This rollout reflects the best of what Mosaic can offer—deep expertise across specialty lines, a commitment to innovation, and true collaboration between teams,” said David Drogin, Head of Americas, Cyber, at Mosaic. “By bringing together FI and cyber under a unified form, we’re offering clients streamlined, sophisticated coverage that reflects how risks intersect in today’s world.”
A spokesperson added, “The modular nature of the product allows Mosaic to provide tailored solutions to clients, as well as innovative solutions where required on individual risks.”
“This is especially compelling for the Bermuda market, where primary solutions are more limited and excess has always been the go-to,” noted Mosaic’s Melissa Pereira, VP, Underwriter, Cyber. “We’re also providing regional access through the US and Canada so clients can tap into it wherever it makes most sense for them—the benefit of our distribution reach and single P&L that aligns our global capabilities.”
“A key gap in the Canadian marketplace is that many insurers struggle to align FI and cyber risk appetites. This often results in clients receiving inconsistent program structures and insurer relationships across coverages,” added Ian Fraser, Head of Canada for Mosaic. “We directly address this gap, which helps foster deeper client relationships and deliver stronger outcomes.”
A spokesperson added, “Financial institutions and cyber are two of seven lines of specialty business at Mosaic; other divisions include environmental liability, transactional liability, political risk, political violence, professional liability.”
Category: All, Business
