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<\/div>\nMosaic Insurance will increase its cyber-risk capacity to US$25 million\/C$40 million per risk in Canada, effective January 1, 2026, allowing the specialty insurer to meet rising demand across all provinces and territories.<\/p>\n
The increase more than doubles Mosaic\u2019s previous limit of US$10 million\/C$15 million in the region, and brings Canada en par with Mosaic\u2019s existing levels globally.<\/p>\n
\u201cThis step-change in cyber capacity for Canada not only addresses a critical market gap, but also builds on Mosaic\u2019s innovative approach to specialty insurance, delivering smarter, more flexible solutions for brokers and clients alike,\u201d said Brian Bonkoski, Mosaic\u2019s global head of Cyber.<\/p>\n
The added capacity provides brokers and insureds with greater flexibility, enables more resilient program design, and enhances how larger cyber risks can be managed, Mosaic said.<\/p>\n
\u201cCanada\u2019s cyber-insurance market has lagged behind the UK and US from a capacity standpoint, with most domestic carriers capped at $10 million and only a select few reaching $15 million,\u201d noted Ian Fraser, president & chief agent, Mosaic Insurance Services Canada.<\/p>\n
\u201cBy increasing Mosaic\u2019s limit to US$$25 million (C$40 million), we\u2019re closing that gap and giving Canadian organizations access to larger, more efficient protection within their cyber insurance programs,\u201d Fraser added.<\/p>\n
Mosaic offers a suite of primary and excess cyber products in Canada and globally, including security and privacy liability, business interruption, voluntary shutdown, cyber extortion, and tech errors and omissions coverage to industries ranging from manufacturing and retail to construction, financial services, and technology.<\/p>\n
Recent additions include cover for some GenAI risks; protection for digital asset business; and reinstatements that offer options to purchase automatic fresh limits of capacity if an incident wipes out coverage, or a capacity tower runs out.<\/p>\n
Launched in February 2021, Mosaic underwrites across product lines selected for high technical barriers to entry and relevance to current and projected geopolitical and economic conditions. As well as cyber, the company\u2019s seven specialty lines include transactional liability, political risk, political violence, environmental liability, financial institutions and professional liability.<\/p>\n
Source: Mosaic Insurance<\/em><\/p>\n Topics<\/span> USA<\/a> Cyber<\/a> Canada<\/a> <\/p>\n<\/p><\/div>\n Was this article valuable?<\/p>\n<\/p><\/div>\n