Mosaic Insurance has announced the launch of a suite of specialised financial institution products, offering $25 million in investment management insurance (IMI).
The firm’s new asset manager form reportedly combines professional indemnity, IMI, directors and officers (D&O), crime, and cyber coverages for managers and their funds.
According to Mosaic, clients can choose fully blended or standalone limits available on a modular basis.
Coverage highlights include first-party cyber coverage; broad mitigation and cost of correction coverage; and broad third-party crime coverage.
Separate fund D&O wording is additionally available on an open-market basis or via Mosaic’s online portal.
Tom Dilley, Mosaic’s Global Head of Financial Institutions, commented, “Asset managers are operating in an increasingly complex environment, navigating the challenges of market volatility, elevated interest rates, and continued threats of economic recession.
“Mosaic is delighted to release a product suite tailored for these professionals, coupling our market-leading claims and underwriting service with a broad mixture of products, combining traditional IMI coverages with first-party cyber coverage.”
James Tuplin, Head of International, Cyber, at Mosaic, added, “This is another great example of Mosaic’s cross-team collaboration, in this case, Financial Institutions and Cyber divisions working together seamlessly and proactively to provide our clients with access to truly blended insurance cover. Our approach ensures all their needs are met in one place by one insurer.”
