Specialty insurer Mosaic Insurance coverage has introduced the launch of knowledgeable legal responsibility insurance coverage suite tailor-made to specialist engineers.
The brand new providing supplies as much as $15m in major protection to deal with distinctive trade dangers and is designed to help a wide selection of engineering disciplines throughout quite a few sectors.
Developed by the corporate’s skilled legal responsibility group, this new product suite consists of further advantages comparable to air pollution legal responsibility, public-relations expense protection and mitigation prices.
The insurance coverage suite is focused at a various vary of engineering specialists, from these in power sectors comparable to oil, fuel and renewables to specialists in mining, nuclear, defence and environmental fields.
It’s structured to serve the wants of assorted trade gamers, from massive multinational firms to particular person freelancers engaged in project-based work.
The protection’s limits will likely be primarily deployed in lead place, with an possibility for extra placements.
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The goal clientele consists of not solely engineering and consultancy service suppliers but in addition design and construct firms, challenge managers, and corporations providing program administration or logistics companies.
Mosaic international head {of professional} legal responsibility Anna Jay mentioned: “Specialist engineers have lengthy been a spotlight for our group, so we’re delighted to launch a devoted product tailor-made for these professionals and the distinctive dangers they’re uncovered to. The product combines key protection with market-leading underwriting and entry to our best-in-class claims-management group.”
Mosaic’s portfolio of specialty insurance coverage traces extends past skilled legal responsibility, encompassing transactional legal responsibility, cyber, political threat, political violence and environmental legal responsibility, catering to a broad spectrum {of professional} dangers.
Earlier in March, Mosaic launched arbitration award default insurance coverage within the US market, that includes a world capability of $65m.
This protection protects in opposition to the non-payment threat from sovereign states in instances of funding treaty violations or unmet contractual duties.
