Mosaic Insurance, the Bermuda-based specialty insurer, has launched a suite of professional liability products for specialist engineers, offering $15 million in targeted primary coverage for unique risks.
The new form offers a dedicated product, with core coverage of professional liability, plus enhancements such as pollution, public-relations costs, and mitigation.
The suite caters to specialists serving a range of industries, including process, chemical, oil and gas, petrochemical, mining, nuclear, renewable energy, testing, defense, transportation, and environmental.
“Specialist engineers have long been a focus for our team, so we are delighted to launch a dedicated product tailored for these professionals and the unique risks they are exposed to,” said Anna Jay, global head of Professional Liability at Mosaic. “The product combines key coverage with market-leading underwriting and access to our best-in-class claims-management team.”
Highlights of the new suite include:
- Coverage offered to clients on a global scale
- Risks of all sizes considered, from multinationals to individuals working on a freelance project basis
- Up to US$15-million line available
- Limits preferably deployed in primary lead position, but excess placements also considered
- Targeting specialists who provide engineering and consultancy services, design and build companies, project management, coordination and scheduling, program management, or logistics services firms.
“The experience of having worked in the field of engineering for a decade prior to underwriting insurance has enabled me to understand complex specialist exposures,” according to the team’s Danny Clack. “Similarly, our entire team has built close client relationships to tailor coverage that truly meets this sector’s needs.”
Professional liability is one of seven lines of specialty business Mosaic underwrites. The firm also offers coverage for transactional liability, cyber, political risk, political violence, environmental liability, financial institutions and environmental liability.
Source: Mosaic
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