Mosaic ups limits for war and terrorism coverage

Mosaic Insurance Holdings Ltd. said Tuesday it is increasing the limits on its war, terrorism and political violence coverage to $600 million per risk from $250 million.

The Bermuda-based insurer said the increased capacity for the coverage, which was introduced in March, allows the company to offer coverage via domestic U.S. or Bermuda markets through underwriting teams in both locations.

Mosaic, which launched earlier this year, said when the coverage was introduced that the stand-alone terrorism products in its portfolio can be written on a primary, excess or quota share basis. 

Products include terrorism and sabotage, third-party liability, strikes, riots, civil commotion, full war and political violence, aviation and marine war, active shooter physical damage and business interruption, cyber, civil and military, and nuclear, chemical and biological and radiological.