Mosaic Insurance has launched a suite of specialised financial institutions products, offering US$25m in investment management insurance, combined with cyber and other coverage for asset managers, funds, and associated directors.

The company’s new asset manager offering combines professional indemnity, IMI, D&O, crime, and cyber coverages for managers and their funds. Clients can choose fully blended or standalone limits available on a modular basis, with coverage including first-party cyber coverage, broad mitigation and cost of correction coverage, and broad third-party crime coverage. Separate fund D&O wording is also available on an open-market basis, or via Mosaic’s online portal.

Tom Dilley, global head of financial institutions at Mosaic, said: “Asset managers are operating in an increasingly complex environment, navigating the challenges of market volatility, elevated interest rates, and continued threats of economic recession. Mosaic is delighted to release a product suite tailored for these professionals, coupling our market-leading claims and underwriting service with a broad mixture of products, combining traditional IMI coverages with first-party cyber coverage.”

Through a 2023 partnership with Safe Security, Mosaic integrates granular telematics into its cyber underwriting process, which it says helps it to provide more accurate risk modelling, correlated with pricing and policy terms. It says the platform delivers real-time insights into the likelihood of cyber breaches across corporate environments using APIs, with data that includes dollar-value risk assessments per attack and pinpoints specific vulnerabilities that could impact cyber ratings and underwriting outcomes.