Mosaic Insurance has introduced a new product suite targeting the digital asset market, combining cyber and financial institutions (FI) crime coverage to address the needs of this industry.

The offering provides tailored protection for businesses navigating complex risks in a sector that has often faced limited insurance options, said Mosaic.

Mosaic has partnered with Native, a specialist broker in digital assets, to support the launch.

Through the Native Risk Collective, businesses that adopt approved vendors and services to enhance their risk profile can access improved coverage terms and more competitive premiums.

The modular suite delivers stand-alone or integrated coverage for cyber, technology errors and omissions (E&O), and crime risks.

It offers up to £/$/€10m in capacity for cyber and tech exposures and up to £/$/€5m for crime exposures, the insurer said.

Mosaic cyber global head Brian Bonkoski said: “Mosaic is bringing the first comprehensive Lloyd’s A+-rated cyber, tech E&O and crime capacity to the digital asset space – it is a true differentiator, delivering a level of trust and financial strength that has been lacking in this space.

“With global regulatory licences and underwriting hubs in London, the US, Bermuda, Canada, Europe, Dubai, and Singapore, we offer seamless coverage to clients, regardless of domicile or the jurisdictions they serve.”

Underwritten through Mosaic’s global agency network on behalf of its Lloyd’s Syndicate 1609, the product is said to be supported by its A+-rated global carrier partners.

Designed to serve a wide range of digital asset businesses, the solution caters to entities such as blockchain analytics companies, custodians, exchanges, exchange-traded funds structures, miners, real-world asset platforms, trading platforms and wallet providers.

These companies have historically encountered challenges in securing comprehensive coverage due to perceived market volatility or regulatory uncertainties, stated Mosaic.

The product mirrors the line sizes and policy structures available to Mosaic’s non-digital asset clients, providing seamless cyber, tech and crime coverage through a single underwriting platform to eliminate common coverage gaps.

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

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

Cyber and financial institutions liability represent two of Mosaic’s seven specialty business lines, alongside environmental liability, transactional liability, political risk, political violence and professional liability.