February 26, 2014 - Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, has collaborated with BitSight Technologies to provide LIU Data Insure policyholders with up-to-date 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 timely, 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.
“Risk mitigation for cyber exposures does not begin and end with an insurance policy,” said Oliver Brew, vice president of privacy and technology for LIU. “To truly help policyholders protect against cyber threats, we need to work with agents and brokers to provide services that actively mitigate the constant threat posed by hackers. By identifying potential attacks before they escalate, BitSight’s innovative technology increases our policyholders’ ability to avoid or reduce the consequences of a data breach.”
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.
For more information on LIU’s Data Insure products, contact Oliver Brew at 212-208-4246 or oliver.brew@libertyiu.com.
About Liberty Mutual Insurance
“Helping people live safer, more secure lives” since 1912, Boston-based Liberty Mutual Insurance is a diversified global insurer and the third largest property and casualty insurer in the U.S. based on 2012 direct premiums written, as reported by the National Association of Insurance Commissioners.
Liberty Mutual Insurance also ranks 81st on the Fortune 100 list of largest corporations in the U.S. based on 2012 revenue. As of December 31, 2013, Liberty Mutual Insurance had $121.2 billion in consolidated assets, $102.2 billion in consolidated liabilities and $38.5 billion in annual consolidated revenue.
Liberty Mutual Insurance offers a wide 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 Mutual Insurance (www.libertymutualinsurance.com) employs over 50,000 people in more than 900 offices throughout the world.
Contact:
Adrianne Kaufmann
617-574-5983
Adrianne.kaufmann@libertymutual.com
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. This literature is a summary only and does not include all terms, conditions, or exclusions of the coverage described. Please refer to the actual policy issued for complete details of coverage and exclusions.
