Mosaic Insurance, a specialty insurer focused on financial institutions and cyber risk, will increase its cyber-risk capacity per risk in Canada to $25 million (CAD 40 million), starting January 1st, 2026.
The move, which more than doubles the insurer’s previous limit of $10 million (CAD 15 million), aims to allow the insurer to meet rising demand across all provinces and territories.
Mosaic notes that this will bring Canada in line with its existing levels in most jurisdictions. The added capacity will provide brokers and insureds with greater flexibility, enable a resilient program design, and enhance the management of larger cyber risks.
The specialty insurer also has plans to raise coverage limits to $25 million in Bermuda and Dubai.
Brian Bonkoski, Global Head of Cyber, Mosaic, commented, “This step-change in cyber capacity for Canada not only addresses a critical market gap, but also builds on Mosaic’s innovative approach to specialty insurance, delivering smarter, more flexible solutions for brokers and clients alike.”
Ian Fraser, President & Chief Agent, Mosaic Insurance Services Canada, added, “Canada’s cyber-insurance market has lagged behind the UK and US from a capacity standpoint, with most domestic carriers capped at $10 million and only a select few reaching $15 million. By increasing Mosaic’s limit to $25 million (CAD 40 million), we’re closing that gap and giving Canadian organisations access to larger, more efficient protection within their cyber insurance programs.”
Mosaic’s cyber products in Canada and globally include security and privacy liability, business interruption, voluntary shutdown, cyber extortion, and tech errors and omissions coverage to industries ranging from manufacturing and retail to construction, financial services, and technology.
The firm has recently added coverage for some GenAI risks, protection for digital asset businesses, and reinstatements that offer options to purchase automatic, fresh limits of capacity if an incident wipes out coverage or a capacity tower runs out.
