Mosaic Insurance launches environmental liability division – The Royal Gazette

Created: Oct 06, 2022 10:45 AM

Environmental liability specialists (l-r): David Barr, Jim Finnamore and David Barr (Photograph provided)

Mosaic Insurance has launched a world environmental liability division, its seventh specialty underwriting unit, to be led by seasoned government Jim Finnamore.

The firm has additionally employed environmental specialists David Barr and William Campbell, all based mostly in London. The new division affords a lead market on environmental liability protection, together with syndicated capability from commerce companions, with preliminary most capability of $25 million.

Mosaic Co-Founder and Co-CEO Mark Wheeler famous: “We’ve envisioned this division from the outset as a natural progression in Mosaic’s growth. It’s exciting to bring leading capacity and deep expertise to address some of the world’s most relevant risks in this arena.”

Mosaic’s suite of proprietary environmental insurance policies is designed to guard firms in a variety of trade sectors towards the chance their actions injury the setting, incurring prices and liabilities.

In-scope sectors embrace oil and gasoline, metallic mining, energy era, electrical energy transmission and distribution, manufacturing, waste administration, actual property, development and infrastructure.

Additionally, Mosaic covers monetary establishments affected by the rising pattern of oblique, contingent liability focusing on lenders, advisers, and insolvency practitioners. Supporting firms transitioning to extra sustainable, low-carbon futures, can be a key focus.

Mr Finnamore stated: “Mosaic’s agility as a new company aligns with our division’s need to be flexible in a rapidly evolving landscape. ”Environmental dangers have by no means been extra related and difficult to firms as they’re at this time, and we envision complementary synergies with Mosaic’s transactional liability, skilled liability, and different business strains.”

He joins Mosaic as SVP, Global Head of Environmental Liability. With greater than 30 years of expertise working within the sector as an underwriter, dealer, adviser and engineer, his focus contains underwriting environmental dangers for company and personal-fairness shoppers in mergers and acquisitions.

Previously, he established and managed SCOR’s environmental and transactional liability staff and held senior positions at Aon, Marsh, and Chubb in Europe, Bermuda, Singapore, and Australia.

Mr Barr is SVP, Senior Underwriter, having spent seven years as an underwriter within the sector at SCOR. A geologist, he initially labored within the offshore oil trade earlier than changing into an environmental marketing consultant, specializing in contaminated land danger evaluation and remediation.

Mr Barr started his insurance profession as a dealer for environmental dangers at each Willis and Marsh, earlier than transferring to underwriting. He was European Manager of Environmental Liability at Chubb previous to becoming a member of SCOR.

Mr Campbell, VP, Underwriter, will underwrite a various vary of environmental dangers, with a regional concentrate on North America. Previously, he spent eight years as an underwriter at SCOR. Before working in insurance, he was an environmental marketing consultant within the UK and South Africa.