• Sat. Apr 20th, 2024

Protecting Tech Companies from Liability Risks: Mosaic Insurance Launches New Primary E&O Coverage

BySamantha Johnson

Mar 6, 2024
Mosaic introduces $15 million in primary technology errors and omissions coverage

Mosaic Insurance has launched primary technology errors and omissions (E&O) coverage to safeguard tech companies from rising liability risks. This new offering is an extension of Mosaic’s primary cyber product, which was first introduced last spring. The primary tech E&O coverage is now available globally as a blended product, whereas previously it was only offered on an excess basis.

The coverage is designed to protect businesses that provide tech products from a range of emerging threats, such as artificial intelligence, virtual reality, edtech, IT consulting, data analytics, software as a service (SaaS), and peer-to-peer platform services. With a capacity of up to $15 million, Mosaic is offering this primary tech E&O coverage through its own Syndicate 1609 and a group of syndicated capital partners. The coverage can be accessed through underwriting hubs in various locations worldwide, including London, the US, Canada, Europe, and the UAE.

Mosaic’s global head of cyber Yosha DeLong emphasized the importance of addressing cyber exposure in conjunction with technology-related liability. The addition of primary tech E&O coverage aligns with Mosaic’s commitment to providing comprehensive solutions to clients and partners. James Tuplin, Mosaic’s head of international cyber who has extensive experience in underwriting highlighted the increasing complexity of technology services and products and the growing risks associated with software failure. This expanded product suite aims to assist clients in protecting themselves from the evolving digital landscape.

Apart from cyber insurance, Mosaic underwrites six other lines of specialty business including transactional liability, political risk

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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