Mosaic Insurance, a global specialty insurer, has bolstered its North American Financial Institutions & Professional Liability (FinPro) capability with several key hires and launched new primary policies with enhanced protections to meet increasing demand.
The insurer has appointed Risa Kleiner as Senior Vice President (SVP), Financial Institutions. She has over two decades of experience across underwriting, claims, and legal roles, and has previously led the financial institutions business at Everest and held underwriting and claims positions at CNA.
Simultaneously, Daniel Frusciano has also been named SVP, Professional Liability, bringing over two decades of experience across global markets. He held senior leadership roles at Ambridge and Liberty Mutual/Ironshore, leading financial lines and cyber underwriting teams.
The appointments are based in New York, where the insurer has created a US team, strengthening its global finpro team of 24 specialists across London, Toronto, and Bermuda.
The hires follow the appointment of Warty and Ann Nozica, Mosaic’s Head of Americas, Financial Institutions in Chicago last year, and the addition this spring of John Soular as SVP, Professional Liability and Michael Rossiter as AVP, Financial Institutions, both in Chicago, and Katy Heatherton, AVP, Financial Institutions, in Los Angeles.
Sachin Warty, Global Head of FinPro, commented, “The expansion of our US financial institutions and professional liability platform reflects both growing client demand and Mosaic’s long-term commitment to these specialty markets.
“Over the course of the last six months, we have built out our capabilities through strategic investments in underwriting talent and the development of primary products designed to address evolving risks facing financial institutions, fintech, asset managers, professional services firms, and other sophisticated organisations.
“Our goal is to deliver innovative coverage solutions, and meaningful capacity to help clients navigate an increasingly complex regulatory, litigation, and operational environment.”
The finpro team has also released several new policies recently, including a primary miscellaneous professional liability policy, and a primary asset manager policy combining directors and officers, professional liability, and fund liability coverage within a single primary form.
The latter provides broad protection for investment advisers, private fund managers, and alternative asset management firms, and can incorporate cyber, crime, employment practices liability, and fiduciary liability coverages into an enterprise-wide risk management program.
Nozica added, “Asset managers and their directors and officers operate in an environment of heightened regulatory scrutiny, increasing fiduciary responsibilities, cybersecurity threats, and growing investor expectations.
“Our asset manager policy is designed to address these evolving challenges through integrated D&O, E&O, and fund liability protection, helping safeguard both the organization and its leadership from management, professional, and regulatory exposures.”
Mosaic has also released Innovator One in North America, a purpose-built solution for fintech and digital asset businesses, combining private company D&O, fintech professional liability, crime, and cyber & technology coverage within a single integrated form.
It was designed to address evolving regulatory, operational, technology, and digital asset risks, and offers a coordinated approach to enterprise risk management with flexibility to tailor coverage through shared or separate limits and a modular coverage structure.
