Industry’s Most Comprehensive Personal Cyber Product Combines Loss Coverage and Proactive Monitoring
BOSTON (September 20, 2022) – Safeco Insurance, a Liberty Mutual company, has launched a new personal cyber coverage endorsement for Safeco Home policyholders. Safeco’s Cyber Protection, available in 24 states, includes a suite of innovative coverages and services designed to protect homeowners from today’s most pressing cyber threats such as identity theft, online fraud, cyberextortion, cyberattacks, data breaches and cyberbullying. The most comprehensive personal cyber product on the insurance market, the endorsement provides coverage for losses and expenses while providing services needed to restore and recover from the crime.
According to the 2021 FBI Internet Crime Report, cybercrime complaints to the FBI continue to rise, resulting in billions of dollars of losses each year. The report states a 64% increase in reported losses from 2020 to 2021, representing over 800,000 complaints to the FBI’s Internet Crime Complaint Center.
“Agents are always looking for innovative ways to offer peace of mind to their customers and this new cyber coverage offers protection against a burgeoning threat,” said Liberty Mutual Director of Product Solutions, Global Retail Markets US, Nathanael Curtis. “Safeco is the first insurer to package proactive credit and identity monitoring services with full-spectrum cyber insurance at an incredibly competitive price.”
As part of the endorsement, Safeco also provides customers with expert-level case management and guidance from a dedicated team of specialists in the event of a cyber exposure. The endorsement includes proactive, comprehensive credit and deep web monitoring for sensitive information that may be posted for sale.
Safeco products are available through a network of independent agents across the United States. The Safeco Cyber Protection endorsement is now available in Ala., Ark., Colo., Ill., Ind., Iowa, Kan., Ky., Md., Mich., Minn., Mo., Mont., Nev., N.M., Ohio, Okla., Ore., Pa., R.I., Tenn., Texas, Utah, and Wis. Cost for coverage varies by state, starting at $52 a year for $25,000 in protection per policy period, with higher limits available. The company plans to introduce the endorsement in additional states in 2022 and 2023.
About Safeco Insurance
In business since 1923, Safeco Insurance sells personal automobile, homeowners and specialty products through a network of more than 10,000 independent insurance agencies throughout the United States. Safeco works hard to be the carrier champion of the independent agent. In a survey conducted in 2022 by Channel Harvest, independent agents named Safeco as the carrier that does more than others to support the overall growth of agencies. Safeco is a Liberty Mutual Insurance company, based in Boston, Mass.
For more information about Safeco Insurance, go to www.safeco.com.
About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the sixth largest global property and casualty insurer based on 2020 gross written premium. We also rank 78 on the Fortune 100 list of largest corporations in the U.S. based on 2021 revenue. As of December 31, 2021, we had $48.2 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com.