Mosaic launches primary tech E&O coverage

Mosaic Insurance’s cyber division has launched primary technology errors and omissions coverage to protect tech companies.

The launch builds on Mosaic’s primary cyber offering initiated last spring and activates primary Tech E&O as a blended product globally; previously it was offered on an excess basis only. Coverage mitigates against rising threats facing businesses contracted to provide tech products, including artificial intelligence, virtual reality, edtech, IT consulting, data analytics, software as a service, and peer-to-peer platform services.

Offering up to $15 million in capacity via both its own Syndicate 1609 and a consortia of syndicated capital partners, Mosaic is making primary Tech E&O coverage available via underwriting hubs in London, the US, Canada, Europe, and UAE.

Cyber is one of seven lines of specialty business Mosaic underwrites. The firm also covers transactional liability, political risk, political violence, environmental liability, financial institutions, and professional liability.

“We understand how intrinsically linked cyber exposure is with technology-related liability, so we’re thrilled to now offer primary tech E&O in conjunction with our primary cyber product on a global basis. This expansion aligns with our strategy to provide needed solutions to our clients and partners.” – Yosha DeLong, Mosaic’s Global Head of Cyber.

“Technology services and products are becoming ever more complex and, at the same time, integral to business, thereby increasing the risk and costs of software failure. We’re increasing our product suite to meet that demand and help clients best protect themselves from these growing digital risks.” – James Tuplin, Mosaic’s Head of International, Cyber.