Bermuda-headquartered Mosaic Insurance has expanded its cybersecurity business line internationally, with the addition of new team members to its UK-based unit.
Amid rising threats from cyber warfare, data breaches, ransomware and other attacks on system and software, Mosaic said its cybersecurity coverage aims to protect diverse industry types from emerging risks.
The specialty insurer began underwriting global cyber coverage from Chicago in April, and Mosaic’s London cyber team is the product’s first international unit, with more expected to follow as the company moves into new jurisdictions.
“With the cyber market rapidly hardening in 2021, and rate increases of between 40 and 50 % on average now being seen, we feel this is a perfect time to grow our international cyber team,” said Mosaic’s global head of Cyber, Yosha DeLong.
Its cyber teams support clients in both preventing attacks and minimizing damage in the aftermath—from crisis services and legal defence to business interruption and data recovery.
With an ability to lead primary business, Mosaic offers maximum capacity of up to £10 million internationally.
New additions to Mosaic’s cybersecurity team in London include George Cole, AVP, underwriter, International Cyber. Previously, he was an assistant underwriter at Occam Underwriting.
Also joining is Lucy Barker-Hahlo as junior underwriter, International Cyber. She 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.
Both report to James Tuplin, head of International Cyber at Mosaic, who is developing the international cyber portfolio in London, Continental Europe, Asia Pacific, and the Middle East.
His unit supports the work of Mosaic’s US-based cyber underwriting team, including DeLong and Brian Dusek, head of Americas Cyber, both in Chicago, and New York-based production specialist Daisy Lopez.
“I am very excited to announce the next steps in ramping up Mosaic’s international cyber team to meet the rising demand,” said Tuplin. “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.”
Mosaic combines Lloyd’s Syndicate 1609 with a wholly-owned syndicated capital management agency. Its six lines of business launched to date include: transactional liability, cyber, political risk, political violence, financial and professional lines.