Mosaic begins writing war, terrorism and political violence coverage from London and New York
Mosaic, the specialty insurer with operations in Bermuda, London, the US and Asia, has commenced underwriting war, terrorism and political violence risks globally out of offices in London and New York.
Mosaic will offer tailored coverage for a full spectrum of commercial, industrial and residential property risks associated with acts of terror and sabotage, malicious damage, strikes, riots, civil commotion, war perils and related liability around the world.
Mosaic’s team comprises Quentin Prebble, Jamie Oliver, Heather Blaser and Michael Glover. Prebble is chairman of war, terrorism and political violence (WTPV) and has more than 40 years of underwriting experience in the London market. He most recently served as global head of marine, including war and terrorism, at Ironshore’s Pembroke syndicate.
Oliver is senior vice president and senior underwriter for WTPV. He has 15 years of industry experience in the Lloyd’s and US insurance markets and previously worked at Marsh in New York as a senior client advisor.
Blaser, also a senior vice president and senior underwriter for WTPV, has more than 10 years of industry experience and was formerly at Ironshore underwriting war and terrorism at Pembroke. She later returned to the US to manage a domestic book of business, successfully building a market-leading consortium.
Glover is a junior underwriter and joins the London team with prior experience in both professional indemnity and political violence.
Mosaic said it plans to continue building up the team over the next few months.
Mosaic offers a broad range of stand-alone terrorism products in the portfolio that can be written as primary, excess or quota-share coverage to mitigate damage, business disruption costs, or lost sales revenues in the event of attacks or threats. Products include: terrorism and sabotage; third party liability; strikes; riots; civil commotion; full war and political violence; aviation and marine war; active shooter physical damage and business interruption; cyber; civil and military; and nuclear, chemical, biological and radiological (NCBR).
Mosaic will act as a lead market, with a maximum capacity of $50 million for any one risk. Through its US operation it will offer up to $250 million through syndicated capacity.
Policies do not require government certification of a terrorist attack or minimum loss requirements. US policies are separate to the federal Terrorism Risk Insurance Program Reauthorization Act (TRIPRA).
Mitch Blaser, chief executive officer at Mosaic, said: “The area of political violence has more relevance today than ever, and Mosaic’s unique position makes us a trusted partner for clients requiring this type of coverage.”
Mosaic was launched in February 2021 and combines Lloyd’s Syndicate 1609 with a wholly-owned syndicated capital management agency and global underwriting hubs. The company is focused on several complex lines of specialty business which are being launched throughout 2021.
