Mosaic expands global cyber business line in hardening market
Specialty insurer Mosaic has expanded its global cybersecurity business line amid a rapidly hardening market, which it believes is a “perfect time” to grow its business.
Mosaic has hired two underwriters from Occam and Ryan Specialty Group to build its London cyber team, with more to follow as the company moves into new jurisdictions.
The new additions include George Cole as assistant vice president, underwriter for international cyber, who will work with global clients to develop solutions and grow a sustainable cyber portfolio. While Lucy Barker-Hahlo, junior underwriter for international cyber, will support the unit, focusing on underwriting of accounts.
Both will report to James Tuplin, head of international cyber at Mosaic, who is developing its international cyber portfolio in London, Continental Europe, Asia Pacific, and the Middle East.
Cole was previously an assistant underwriter at Occam Underwriting, after completing the Lloyd’s of London Graduate Programme. He is an accredited ACII Chartered Insurer. Barker-Hahlo previously worked as an assistant underwriter at EmergIn Risk, a Ryan Specialty Group MGA specialising in cyber, technology, and media for US and international clients.
The specialty insurer began underwriting global cyber coverage from Chicago on April 1, just two months after launching with headquarters in Bermuda, a new Lloyd’s syndicate, 1609, and a network of underwriting hubs in the US, UK and Asia.
Amid rising threats from cyber warfare, data breaches, ransomware and other attacks on system and software, Mosaic’s cybersecurity coverage aims to protect diverse industry types from emerging risks. Its cyber teams will support clients in both preventing attacks and minimizing damage in the aftermath—from crisis services and legal defense to business interruption and data recovery. With an ability to lead primary business, Mosaic will offer maximum capacity of up to £10 million internationally.
Yosha DeLong, Mosaic’s global head of cyber, said: “With the cyber market rapidly hardening in 2021, and rate increases of between 40 and 50 percent on average now being seen, we feel this is a perfect time to grow our international cyber team. Building on our London unit bolsters our bench strength in market-leading talent and allows us to powerfully grow our global cyber offering.”
Tuplin added: “I am very excited to announce the next steps in ramping up Mosaic’s international cyber team to meet the rising demand. George and Lucy have established themselves as two of the best young cyber underwriters in the London market, and I look forward to working with them to build Mosaic’s cyber offering worldwide.”
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