Mosaic, Transverse partner to offer cyber insurance in US

Mosaic Insurance Holdings Ltd. said Tuesday it has partnered with Princeton, New Jersey-based Transverse Insurance Group LLC to offer $20 million in cybersecurity capacity in the U.S. market.

Transverse is a hybrid fronting insurer that serves the program, managing general agency and reinsurance markets.

Bermuda-based Mosaic said in a statement that the strategic partnership is an expansion of the syndicated program it introduced in December. The program is designed to attract capital from commercial insurers to write complex specialty risks in regional markets worldwide.

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