Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has collaborated with BitSight Technologies to provide LIU Data Insure policyholders with current ratings on their company’s information security health to help better protect their sensitive business and customer data.
Through LIU’s Data Insure coverage, policyholders will have access to BitSight Security Rating Service, which delivers a data-driven analysis of a company’s security performance. BitSight continuously analyzes, rates and monitors companies’ security postures, all from outside the company. Policyholders do not need to provide information and there is no intrusive testing involved. New ratings are generated on a daily basis, giving continuous visibility into the security of a company’s data.
According to Oliver Brew, vice president of privacy and technology for LIU, by identifying potential attacks before they escalate, BitSight’s technology increases policyholders’ ability to avoid or reduce the consequences of a data breach.
“Risk mitigation for cyber exposures does not begin and end with an insurance policy,” said Brew.
Website attacks can occur at any time. Hackers may spend days or weeks looking for an exploitable weakness in their target’s network. By tracking and analyzing publicly observable security events daily, such as malware distribution or communication with known botnets, BitSight Security Rating Service alerts LIU to unusual behaviors, allowing LIU to notify the broker and policyholder of the activity.
BitSight Security Rating Service is available to companies that have one of LIU’s Data Insure coverages:
- LIU Tech Insure: covers breach of contract, intellectual property infringement, project failure coverage, data breach liability and E&O for technology companies.
- LIU Data Insure: standalone coverage for data breach liability and related costs for companies that handle personal data.
- LIU DataPro Insure: professional liability coverage as well as data breach liability and related costs cover for a wide range of professions and companies.
Liberty Mutual Insurance offers a range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety. Liberty International Underwriters is the marketing name for the broker-distributed specialty lines business operations of Liberty Mutual Insurance. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.