Newly established specialty insurer Mosaic has launched its financial institutions division, set to underwrite risks globally through its London office.
Coverage will be aimed at protecting a broad range of financial institutions from exposures caused by crime, damages payable to third parties and legal defense costs.
Its D&O coverage is also designed to safeguard personal assets of business leaders in the event of related claims.
“Sophisticated financial-sector companies face diverse and unique threats—from theft and customer claims, to regulatory investigations, and exposures for executives,” said Mosaic Co-CEO Mark Wheeler.
“Our FI underwriting team has a highly-regarded track record in this business and they’ll be applying that deep knowledge, combined with a very discerning approach to risk selection.”
Mosaic’s financial institutions team includes Chris Brown, EVP, Global Head, Financial Institutions, who has almost four decades of experience in the London market, with specialisation in financial institutions underwriting for the past 27 years.
Andrew Deans, SVP, Underwriter, Financial Institutions, who has spent nearly 30 years in the London market, in both claims adjusting and underwriting. At Mosaic, he brings legal and policy-drafting expertise to the division.
Chris Webb, SVP, Underwriter, Financial Institutions, who has nearly 40 years’ experience in the Lloyd’s market as both a financial institutions placing broker and underwriter. At Mosaic, he offers a wealth of experience and client relationships as a lead FI underwriter.
“Financial institutions are navigating a more complex global landscape than ever before and need a true specialty partner,” said Brown.
“Our team is well-equipped to meet that demand from a broad range of institutions—from banks, stock exchanges and trading platforms to asset managers and venture capital fund managers—to tackle fast-changing exposures in today’s environment.”
