Mosaic expands cyber insurance team
Mosaic Insurance has expanded its cybersecurity business line internationally with the addition of new team members to its UK-based unit.
The specialty insurer began underwriting global cyber coverage from Chicago on April 1, only two months after launching, with headquarters in Bermuda, a new Lloyd’s syndicate, 1609, and a network of underwriting hubs in the United States, United Kingdom and Asia.
The company said that Mosaic’s London cyber team is the product’s first international unit, with more to follow as the company moves into new jurisdictions.
“With the cyber market rapidly hardening in 2021, and rate increases of between 40 and 50 per cent on average now being seen, we feel this is a perfect time to grow our international cyber team,” said Mosaic’s global head of cyber, Yosha DeLong.
“Building on our London unit bolsters our bench strength in market-leading talent and allows us to powerfully grow our global cyber offering.”
Amid rising threats from cyber warfare, data breaches, ransomware and other attacks on system and software, Mosaic said that its cybersecurity coverage aims to protect diverse industry types from emerging risks.
Its cyber teams support clients in both preventing attacks and minimising damage in the aftermath ― from crisis services and legal defence to business interruption and data recovery.
With an ability to lead primary business, Mosaic said that it offers a maximum capacity of up to £10 million internationally.
New additions to Mosaic’s cybersecurity team in London include George Cole, AVP, underwriter, international cyber, and Lucy Barker-Hahlo, junior underwriter, international cyber.
Both report to James Tuplin, head of international cyber at Mosaic, who is developing the international cyber portfolio in London, Continental Europe, the Asia Pacific and the Middle East.
His unit supports the work of Mosaic’s US-based cyber underwriting team, including Ms DeLong and Brian Dusek, head of Americas Cyber, both in Chicago, and New York-based production specialist Daisy Lopez.
Mr Tuplin said: “I am very excited to announce the next steps in ramping up Mosaic’s international cyber team to meet the rising demand. George and Lucy have established themselves as two of the best young cyber underwriters in the London market, and I look forward to working with them to build Mosaic’s cyber offering worldwide.”
Mosaic said that it combines Lloyd’s syndicate 1609 with a wholly owned syndicated capital management agency, enabling the company to identify, source and underwrite business on behalf of itself, along with other trade-capital partners. Its six lines of business launched to date include: transactional liability, cyber, political risk, political violence, financial and professional lines.