(New York, NY) - 16 July 2013 - Lockton Re has brokered a new strategic partnership agreement between CloudInsure, the world's first cloud insurance platform, and Liberty International Underwriters (LIU). The new insurance platform is underpinned by CloudInsure's bespoke underwriting models and proprietary analytics, and LIU is the first primary insurance carrier to offer capacity and coverage specifically tailored for this platform covering data privacy and technology errors & omissions risks in the Cloud environment.
CloudInsure clients will now have access to specialist privacy cover for data stored in the Cloud should it be unintentionally released, and technology errors and omissions coverage if their systems fail to deliver as promised. The data insurance products will provide access to 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.
Tony Jones, Executive Director at Lockton Re commented: "Lockton Re strives to create real world solutions for clients by utilizing innovative and out of the box thinking. This is why we are thrilled to be able to bring like-minded organizations in CloudInsure and LIU together in a partnership that will provide Cloud providers and their clients with solutions to their data privacy and technology errors & omissions exposures. This new insurance platform combines CloudInsure's specialist underwriting models and analytical capacities with LIU's long track record of industry-leading solutions and strong financial stability, to create what will become the standard in Cloud insurance."
James Moss, Executive Director, Lockton Re London said: "The Cloud distribution network offers huge growth potential for the insurance industry, and at Lockton Re we are very excited to be working alongside companies with the necessary vision and expertise to recognise this opportunity."