Mosaic Insurance has announced the launch of primary technology errors and omissions (E&O) coverage to protect tech companies from increasing liability risks.
Offering up to $15 million in capacity via both its own Syndicate 1609 and a consortium of syndicated capital partners, Mosaic is making primary Tech E&O coverage available via underwriting hubs in London, the US, Canada, Europe, and UAE.
According to Mosaic, the new coverage builds on its primary cyber offering, initiated last spring, and activates primary Tech E&O as a blended product globally, previously offered on an excess basis only.
It aims to mitigate against rising threats facing businesses contracted to provide tech products, including artificial intelligence, virtual reality, edtech, IT consulting, data analytics, software as a service (SaaS), and peer-to-peer platform services.
“We understand how intrinsically linked cyber exposure is with technology-related liability, so we’re thrilled to now offer primary tech E&O in conjunction with our primary cyber product on a global basis,” said Yosha DeLong, Mosaic’s Global Head of Cyber. “This expansion aligns with our strategy to provide needed solutions to our clients and partners.”
James Tuplin, Mosaic’s Head of International, Cyber, added: “Technology services and products are becoming ever more complex and, at the same time, integral to business, thereby increasing the risk and costs of software failure.
“We’re increasing our product suite to meet that demand and help clients best protect themselves from these growing digital risks.”
