Mosaic launches integrated tech and cybercrime cover for digital assets
Bermuda-based Mosaic Insurance has introduced a combined cyber and financial institutions crime insurance product.
The new modular product suite offers standalone or blended coverage across cyber, technology errors and omissions (E&O), and crime.
The solution provides up to $10 million in capacity for cyber and tech, and up to $5 million for crime exposures, underwritten via Mosaic on behalf of its Lloyd’s Syndicate 1609, backed by A+ rated global carrier partners.
Brian Bonkoski (pictured left), global head of cyber at Mosaic, said: “Mosaic is bringing the first comprehensive Lloyd’s A+-rated cyber, tech E&O, and crime capacity to the digital asset space — it’s a true differentiator, delivering a level of trust and financial strength that has been lacking in this space.
“With global regulatory licences and underwriting hubs in London, the US, Bermuda, Canada, Europe, Dubai and Singapore, we offer seamless coverage to clients, regardless of domicile or the jurisdictions they serve.”
The solution is designed for a broad spectrum of digital asset clients, spanning fast-growing innovators to mature market participants, including exchanges, custodians, trading platforms, blockchain analytics firms, miners, exchange-traded funds (ETF) structures, real world asset (RWA) platforms, and wallet providers.
Line sizes and policy structure mirror those accessible to Mosaic’s non-digital asset clients, and the product offers cyber, tech, and crime coverage from a single underwriting platform.
The launch is underpinned by Mosaic’s strategic partnership with Native, a specialist broker in digital assets.
“Digital asset clients have long needed insurance that understands their risks, offers meaningful capacity, and brings a long-term view,” said Mosaic’s Kieran Quigley (pictured right), VP, underwriter, cyber. “We’ve listened to clients and brokers and built solutions that reflect the ambition and growing sophistication of this space. We’re proud to support innovators driving the next wave of global economic change.”
Cyber and financial institutions liability are two of seven lines of specialty business at Mosaic; the others being environmental liability, transactional liability, political risk, political violence and professional liability.
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