Mosaic Insurance Expands North American FinPro Team and Launches New Fintech Policies

Mosaic Insurance continues to build out its North American finpro capability, with key recent hires and the launch of new primary policies comprising a suite of enhanced protections to meet increasing demand from financial firms and professional service providers.

“The expansion of our US financial institutions and professional liability platform reflects both growing client demand and Mosaic’s long-term commitment to these specialty markets,” said Sachin Warty, Global Head of Financial Institutions & Professional Liability (FinPro). “Over the course of the last six months, we have built out our capabilities through strategic investments in underwriting talent and the development of primary products designed to address evolving risks facing financial institutions, fintech, asset managers, professional services firms, and other sophisticated organizations.

“Our goal is to deliver innovative coverage solutions, and meaningful capacity to help clients navigate an increasingly complex regulatory, litigation, and operational environment.”

Mosaic has brought on board two key hires in New York, creating a dozen-strong team in the US that bolsters the company’s global finpro team of 24 specialists across London, Toronto, and Bermuda:

• Risa Kleiner has joined as SVP, Financial Institutions, bringing 20 years of experience, spanning underwriting, claims, and legal roles. She previously led the financial institutions business at Everest and held underwriting and claims positions at CNA.
• Daniel Frusciano also joined, as SVP, Professional Liability, bringing over two decades of experience across global markets. He held senior leadership roles at Ambridge and Liberty Mutual/Ironshore, where he led financial lines and cyber underwriting teams.

The scale-up follows the company’s appointment in Chicago last year of Warty and Ann Nozica, Mosaic’s Head of Americas, Financial Institutions, and the addition this spring of John Soular as SVP, Professional Liability and Michael Rossiter, as AVP, Financial Institutions, both in Chicago, and Katy Heatherton, AVP, Financial Institutions, in Los Angeles.

Mosaic’s North American finpro team have also released several new policies this summer, including a primary miscellaneous professional liability policy and a primary asset manager policy that combines directors and officers, professional liability, and fund liability coverage within a single primary form. The latter provides broad protection for investment advisers, private fund managers, and alternative asset management firms, with flexibility to incorporate cyber, crime, employment practices liability, and fiduciary liability coverages into an enterprise-wide risk management program.

“Asset managers and their directors and officers operate in an environment of heightened regulatory scrutiny, increasing fiduciary responsibilities, cybersecurity threats, and growing investor expectations,” noted Nozica. “Our asset manager policy is designed to address these evolving challenges through integrated D&O, E&O, and fund liability protection, helping safeguard both the organization and its leadership from management, professional, and regulatory exposures.”

Mosaic has also released Innovator One in North America—a purpose-built solution for fintech and digital asset businesses, combining private company D&O, fintech professional liability, crime, and cyber & technology coverage within a single integrated form. Created to address evolving regulatory, operational, technology, and digital asset risks, Innovator One offers a coordinated approach to enterprise risk management with flexibility to tailor coverage through shared or separate limits and a modular coverage structure.

Other primary/lead forms offered by Mosaic for the North American finpro market include FI bonds, lead side A difference in conditions (DIC), and, coming soon, private and public company D&O.

Launched in February 2021, Mosaic marked its fifth year in business this year and currently has eight specialty lines. As well as financial institutions and professional liability, they include cyber, environmental liability, political risk, political violence, specialty casualty, and transactional liability.