Liberty International Underwriters Launches Cyber Liability Products

February 9, 2012

Agents and brokers have three new options for technology risks from Liberty International Underwriters (LIU).

The specialty lines division of Liberty Mutual Insurance has started offering a trio of new primary cyber liability products. Any of these policies will let each policyholder work with a consultant to access pre- and post-loss support services including pre-loss risk management, post-loss computer forensics, credit monitoring and restoration, data breach notification services and legal advice

The company considers LIU Tech Insure one of the broadest coverage offerings for technology service companies on the market. This policy covers breach of contract, intellectual property infringement, project failure coverage, data breach liability and E&O for all offered services.

LIU Data Insure offers standalone coverage for data breach liability and related costs coverage for companies that handle personal data.

LIU DataPro Insure provides professional liability coverage as well as data breach liability and related costs cover for a wide range of professions and companies.

To head up this product line, LIU has hired Oliver Brew as vice president of Miscellaneous Professional Liability and Technology E&O. Brew has more than a decade of experience in global technology, network privacy and data security E&O.

“Computer hacking has always been a risk for any company with a web site and a network, but recently the frequency and severity of attacks has significantly increased,” Brew said. “Data security is now more than just an IT issue – it is a board-level issue.”

Brew said that attacks are becoming more sophisticated, meaning more companies are looking for data security insurance to help protect their operations.

LIU is the marketing name for the broker-distributed specialty lines business operations of the Boston-based Liberty Mutual Insurance.

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