NEW YORK, June 13, 2013 (GLOBE NEWSWIRE) -- CloudInsure, the world's first cloud insurance platform designed to specifically address emerging privacy and security risks within the cloud environment, today announced that Liberty International Underwriters (LIU) will provide CloudInsure clients with an innovative insurance platform specifically designed to address the risks associated with cloud computing technologies.
Underpinned by CloudInsure's bespoke underwriting models and proprietary analytics, the new LIU cloud insurance platform distinguishes the company as the first primary insurance carrier to offer both insurance capacity and coverage specifically tailored to users of cloud computing network environments.
Oliver Brew, Vice President in LIU's Technology and Privacy Practice, said: "With our focus on Technology Errors & Omissions and data privacy coverage, our goal is to help providers of technology services protect themselves if their systems fail to deliver as promised, and protect owners of personal data if private information is unintentionally released. Cloud computing offers significant benefits in cost savings, scalability and performance, but as underwriters, we have to be very alert to the dynamic risks that accompany it because both the law and technologies are changing rapidly."
Through LIU, CloudInsure clients will have access to insurance protection for the data being stored in the cloud. The LIU Data Insure products allow policyholders to 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.
David Kimmel, CEO of CloudInsure's parent company CyberRiskPartners, LLC commented: "We are thrilled to partner with LIU. Their industry expertise and position as a leading primary insurer in Technology E&O and data privacy coverage allows us to streamline our focus to what we do best: providing turn-key insurance solutions that address risk in the cloud environment."
About CyberRiskPartners and CloudInsure
CloudInsure, a wholly owned subsidiary of CyberRiskPartners, LLC, offers insurance solutions that address cloud technology. CloudInsure has engineered privacy and security liability coverage to meet the needs of enterprise customers via cover language, rating methodology and underwriting expertise. CloudInsure is a sister company to CyberFactors, a proprietary cyber risk analytics database that models adverse technology-related events and their consequences. For more information, contact Doug Weeden at firstname.lastname@example.org or see www.cloudinsure.com and www.cyberfactors.com.
About Liberty International Underwriters
Liberty International Underwriters is part of the global specialty lines unit of Liberty Mutual Insurance. 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, 2012, Liberty Mutual Insurance had $120.1 billion in consolidated assets, $101.5 billion in consolidated liabilities, and $36.9 billion in annual consolidated revenue.
CONTACT: Media Contact: Jocelyn DeGance Graham email email@example.comSource: CloudInsure