Mosaic Insurance‘s cyber division has introduced primary technology errors and omissions (E&O) coverage, aimed at safeguarding tech companies from growing liability risk concerns.
The firm’s primary tech E&O coverage offers robust protection against a spectrum of technology-related liabilities, including artificial intelligence, IT consulting, and software as a service (SaaS).
This blended product complements Mosaic’s existing cyber offering, providing clients with comprehensive coverage on a global scale.
The move is set to address the escalating liability risks faced by tech companies in today’s digital landscape. With capacity of up to $15m, Mosaic’s primary tech E&O coverage is accessible through underwriting hubs in key regions, including London, the US, Canada, Europe, and UAE.
The integration of granular telematics, facilitated by a partnership with tech pioneer Safe Security, enhances the underwriting process, offering real-time insights into cyber breach risks.
Yosha DeLong, Mosaic’s Global Head of Cyber, stated, “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.”
James Tuplin, Mosaic’s Head of International, Cyber, added, “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.”
Cyber constitutes just one of the seven specialty lines of business underwritten by Mosaic Insurance. Additionally, the firm provides coverage for transactional liability, political risk, political violence, environmental liability, financial institutions, and professional liability.
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