Lockton Re Creates Capacity for Insurers with Cloud Service Providers

Lockton Re has brokered a strategic partnership agreement between CloudInsure, a cloud insurance platform, and Liberty International Underwriters (LIU).  The new insurance platform is supported by CloudInsure's underwriting models and proprietary analytics.

LIU is the first primary insurance carrier to offer capacity and coverage specifically tailored for this platform covering data privacy and technology errors and omissions risks in the cloud environment.

CloudInsure clients will 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. 

"Lockton Re strives to create real world solutions for clients by utilizing innovative and out of the box thinking," says Tony Jones, executive director of LocktonRe. "This is why we are thrilled to be able to bring like-minded organizations such as 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."

Adds James Moss, executive director, Lockton Re London, "The cloud distribution network offers huge growth potential for the insurance industry, and we are excited to be working alongside companies with the necessary vision and expertise to recognise this opportunity."