Liberty International Underwriters, a specialty lines division of Liberty Mutual Insurance, has announced that it will be providing three new cyber liability products. Insurers are beginning to take the risk of cybercrime seriously, especially as more hackers become more brazen in their attacks on companies and government institutions. While companies face the potential for major losses as the result of cybercrime, consumers are the ones that are affected most by attacks. Identity theft is rampant in the world of technology, and many have found their sensitive financial information compromised due to the lack of security from the companies they trust.
Liberty Mutual is the latest insurance company to adopt coverage plans for cyber liability. Each of the insurer’s new products will allow policyholders to meet with technology consultants who will assist in post-loss computer forensics, credit monitoring and restoration. Policyholders will also be granted access to data breach notification and legal services in order to mitigate the damage caused by identity theft.
Liberty Mutual’s cyber security products are backed by LIU Tech Insure, a branch of Liberty International Underwriters. The insurer considers the data protection technology from LIU Tech to be amongst the best in the world and is sure that they will provide adequate protection for consumers and companies concerned with having their information stolen or otherwise compromised by hackers.
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