Mosaic continues build-out with global professional liability division
Start-up global specialty insurer Mosaic has rolled out its professional liability offering worldwide in less than four months after launch.
Mosaic was launched in February 2021 following backing from private equity investment firm Golden Gate Capital. It combines Lloyd’s Syndicate 1609 with a wholly-owned syndicated capital management agency and underwriting hubs in Bermuda, London, the US, and Asia.
The company is focused on complex specialty lines of business, and has already launched underwriting teams in cybersecurity, political violence, and political risk lines.
Mosaic is underwriting professional liability coverage through its London office. It offers professional indemnity and directors’ and officers’ coverage for a range of service providers, including lawyers and specialist engineers in target industries like oil and gas, marine and aviation. It also serves various professionals such as actuaries, P&I club managers, security consultants, underwriting agents and insurance brokers.
Mosaic said it will be a lead market on all coverage, taking a primary position to deploy a maximum capacity of $10 million for any professional liability risk, for both international and US business.
The newly-established London-based professional liability team includes Anna Jay, head of professional liability; Danny Clack, deputy active underwriter; Francesca Harland and Pete Young as underwriters.
Jay will oversee the division and its global portfolio. She has almost 20 years’ experience working across the specialty sector, with a core focus on professional liability.
Clack, who supports all business lines through Mosaic’s Syndicate 1609, with a focus on professional liability. He is a nearly 20-year veteran of Lloyd’s of London and the commercial insurance market
Harland will focus on developing Mosaic’s US and international professional liability portfolio. She has a strong track record in miscellaneous and emerging risks, working with clients to develop niche products in this area
Young, who has spent more than a decade at Lloyd’s, will be responsible for underwriting the professional liability portfolio and developing relationships with brokers and clients.
Mark Wheeler, co-chief executive officer at Mosaic, noted the challenges professional firms currently face, with globalisation and regulatory changes creating uncertainty and increasing systemic risk.
“ Mosaic is uniquely positioned to offer innovative solutions in markets worldwide,” he said. “We are set apart by our exceptional underwriters, who bring decades of experience and an extremely disciplined approach to writing coverage across diverse disciplines around the globe.”
Jay added: “Our comprehensive products ensure policyholders are protected against exposures specific to their industry, whether they are a sole trader in the oil and gas sector, for example, or a multinational, full-service law firm.”
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