Liberty International Underwriters (LIU), a division of Liberty Mutual Group, has contracted with New-Hampshire based Cogentric to utilize Cogentric’s Alcon Security Systems to help businesses manage cyber risks.
LIU will now offer coverage for Internet-related errors and omissions, copyright infringement, invasion of privacy, and liabilities associated with “hacker” attacks, transfer of viruses, and unauthorized use of computer systems.
“LIU is pleased to insure small and medium-size companies that depend on the Internet and related networks for e-commerce,” Carl Pursiano, vice president of Specialty Casualty for LIU, commented. “For the first time, firms in manufacturing, retail, medical, technology and other business sectors can obtain Liberty Mutual insurance protection against losses caused by cyber attack.
“Alcon is the engine that collects and analyzes the data necessary for issuance of cyber insurance,” Pursiano continued. “The LIU Internet Advantage policy provides Internet liability, crime, and computer extortion coverage to help companies manage the risks that threaten their Internet and network activities. Combined with a comprehensive network and data Security Assessment from Cogentric, our policy forms a key component of the Information Security Risk Management process.”
Topics Cyber Underwriting
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
Viewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
