Mosaic expands European political violence capacity from German hub

Mosaic Insurance has expanded its European political violence offering, making up to €100 million of syndicated capacity available directly through its German hub in Cologne to European Economic Area brokers.

The insurer said the move responds to rising demand for political violence insurance across the region. Coverage is available to European Economic Area (EEA) brokers and applies to commercial, industrial and residential property risks.

The offering covers acts of terror and sabotage, malicious damage, strikes, riots and civil commotion (SRCC), active assailant, war perils and related liability.

Mosaic said it has previously established direct political violence capacity in the US and Dubai markets. The European launch uses its Cologne presence to provide capacity directly to EEA brokers.

Adam McGrath (pictured), global head of political violence at Mosaic, said: “We’re delighted to announce the launch of political violence cover through Mosaic Europe. Having already established direct capacity in the US and Dubai markets, we have now expanded into Europe with this line of business by taking advantage of our Cologne presence and strong foothold in the region.”

Dennis Bertram, managing director for Europe, said demand for political violence insurance was increasing as terrorism remained an unpredictable threat and state-backed acts of sabotage raised concerns over direct and collateral property damage and business continuity.

He said socio-economic and geopolitical factors were affecting European nations in different ways, with the risk of social unrest across the region heightened and the potential for systemic loss considered real.

“Europe is a diverse and multi-cultural continent that faces risks from many different forms of political violence and our European business is committed to supporting clients through what is a challenging and uncertain environment,” said Bertram.

“By offering coverage through our German hub, we are able to write European Economic Area (EEA) business directly to EEA brokers,” added Bertram, “expanding our reach through the European market.”

Did you get value from this story? Sign up to our free newsletters and get stories like this sent straight to your inbox.