Hamilton, Bermuda, March 25, 2021—Mosaic will begin underwriting cyber insurance globally April 1, through teams based in Chicago and London.
Mosaic's Cybersecurity & Privacy coverage is designed to protect diverse industry types and focus on supporting insureds' ability to not only proactively prevent an attack, but also respond and minimize damage in the aftermath. The company plans to capitalize on strong relationships with US and international retail brokers and clients and leverage its underwriters' market leadership—including regular collaboration with the FBI, Department of Homeland Security, and National Institute of Standards & Technology (NIST) in the US, the UK National Cyber Security Centre, and the European Union Agency for Cybersecurity (ENISA), to shape industry best practices.
Mosaic's experienced cybersecurity team in the US and UK includes:
• Yosha DeLong, SVP, Head of Cyber Underwriting, has more than 24 years' experience in managing liability, professional and cyber lines. Based in Chicago, she is responsible for development and oversight of Mosaic's cybersecurity product globally. Previously, she was technical director of cyber and professional lines at Zurich North America, where she coordinated cyberrisk coverage across all lines of business and oversaw professional liability lines. She held prior roles at Gemini Risk, Ironshore Insurance, and Axis Capital.
• James Tuplin, SVP, Head of International Cyber Underwriting, has more than 18 years of experience underwriting international commercial risk, with a focus on the cyber and tech, media and telecom (TMT) sector. Based in London, he was previously head of cyber and TMT for AXA XL's International Financial Lines division and has also held cyber-related roles at QBE, Allianz Insurance, and Zurich. At Mosaic, he is developing the international cyber portfolio, starting in London and seeking opportunities in Europe, Asia Pacific, and the Middle East.
• Brian Dusek, VP, Head of Cyber Underwriting (US), has more than 20 years of experience as a lawyer, monitoring counsel, claims and insurance professional. Based in Chicago and responsible for growing Mosaic's cyber portfolio through North America, he was previously cyber product manager at Zurich North America. Before that, he was a practicing insurance coverage lawyer at McCullough, Campbell & Lane LLP, where he represented insurers worldwide with a focus on claims relating to professional liability and cyber.
"By establishing an experienced, market-leading team with proven track records and reputation, our cyberrisk unit will build an influential global franchise in this very complex class," said Mosaic CEO Mitch Blaser. "Heightened threats from cyber warfare, data breaches, ransomware and other attacks on systems and software are well recognized and the danger of disruption to industries and economies is significant. We believe this line of business will become increasingly relevant."
Mosaic offers a broad range of cyber coverages designed to protect insureds from emerging threats facing companies and mitigate incident costs, ranging from crisis services and legal defense to business interruption and data recovery. Primary and excess coverage will focus on middle-market businesses in a variety of industries.
With an ability to lead primary business in both the US and London markets, Mosaic will offer maximum capacity of USD $10 million for any one risk in North America and up to GBP £10 million internationally.
"Protection for digital assets is becoming ever more critical as new threats emerge daily," said DeLong, who moderated an expert panel on cyber warfare in a NetDiligence webinar series this week. "We look forward to building our cyber portfolio and encouraging deeper understanding and preparation against these incidents and exposures to help industries prioritize a larger cybersecurity culture."
Founded by Blaser last month, Mosaic 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 several complex lines of specialty business which are being launched throughout 2021.
Mosaic is a next-generation global specialty insurer harnessing visionary leadership, exceptional underwriting talent, a focus on complex product lines, and a digitised operating model. Coupling Lloyd's Syndicate 1609 with a wholly-owned syndicated capital management agency, Mosaic is uniquely positioned to offer capacity to clients in markets around the world. For details, visit mosaicinsurance.com and follow @Mosaic1609.