Specialty insurer, Mosaic Insurance has launched a global environmental liability division.
The division is the company’s seventh underwriting unit, and it is set to be led by seasoned 30-year executive Jim Finnamore.
Finnamore joins Mosaic as Senior Vice President , Global Head of Environmental Liability. With more than 30 years of industry experience that involves him working as an underwriter, broker, adviser, and engineer, his focus includes underwriting environmental risks for corporate and private-equity clients in mergers and acquisitions (M&A).
Previously, he established and managed SCOR’s environmental and transactional liability team and held senior positions at major companies such as, Aon, Marsh, and Chubb in Europe, Bermuda, Singapore, and Australia.
At the same time, the company has also appointed environmental specialists David Barr and William Campbell, both based in London.
Barr, joins Mosaic as SVP, Senior Underwriter. Previously he spent seven years as an underwriter in the sector at SCOR. Barr began his career within the insurance industry serving as a broker for environmental risks at both WTW and Marsh, before moving to underwriting.
Additionally, he previously served as European manager of environmental liability at Chubb before he joined SCOR.
Meanwhile, Campbell joins Mosaic as VP, Underwriter. Within this role he will underwrite a diverse range of environmental risks, with a regional focus on North America. Previously, he spent eight years as an underwriter at SCOR.
Furthermore, Mosaic Insurance has stated that the new division offers a lead market on environmental liability coverage, along with syndicated capacity from trade partners, with initial maximum capacity of $25 million.
“We’re thrilled to launch our environmental capability and to welcome Jim, David, and Will to our team—their specialized talent is prominent in the market,” said Mosaic Co-Founder and Co-CEO Mark Wheeler.
“We’ve envisioned this division from the outset as a natural progression in Mosaic’s growth. It’s exciting to bring leading capacity and deep expertise to address some of the world’s most relevant risks in this arena.”
Mosaic’s suite of proprietary environmental policies is designed to protect companies in a wide range of industry sectors against the risk their activities damage the environment, incurring costs and liabilities. In-scope sectors include oil and gas, metal mining, power generation, electricity transmission and distribution, manufacturing, waste management, real estate, construction and infrastructure.
