Mosaic Insurance has launched a cyber and financial institution crime product that offers modular cover across cyber, technology errors and omissions, and crime. It offers cover of up to £10m for cyber and technology errors and omissions. The limit is £5m for crime exposures. Mosaic’s Syndicate 1609 will underwrite the product on behalf of its international agency network.

Mosaic said its new product was designed for a wide range of new and established digital asset clients. These include exchanges, custodians, trading platforms, blockchain analytics firms, miners, exchange-traded funds structures, real world asset platforms and wallet providers.

The launch is underpinned by Mosaic’s recently announced strategic partnership with Native, which a specialist broker in digital assets. The partnership seeks to reward strong risk management practices in the digital asset sector with improved insurance premiums and wordings.

Kieran Quigley, VP, underwriter, cyber at Mosaic, said: “Digital asset clients have long needed insurance that understands their risks, offers meaningful capacity and brings a long-term view.”

“We’ve listened to clients and brokers and built solutions that reflect the ambition and growing sophistication of this space. We’re proud to support innovators driving the next wave of global economic change.”