Liberty Mutual rolls out global cyber suite as market softens

Liberty Mutual Insurance has launched a new flagship cyber insurance suite designed to combine global capacity with local flexibility at a time when insuers are seeking to balance competitive pricing with rising cyber risk severity.

The suite includes Liberty Cyber Resolution, a core product aimed at organizations across industries, and Liberty Tech Resolution, a blended Cyber & Tech E&O form tailored to the technology sector. Both base products offer features such as coverage for executive personal losses stemming from cyberattacks directed at their company.

Optional enhancements allow policies to be tailored to individual clients. The products are supported by Liberty’s cyber risk engineering team and a global vendor network that assists with incident response, threat actor negotiations and data recovery.

Liberty Mutual positioned the products as globally supported but regionally executed, with the intent of giving clients and brokers greater clarity and flexibility. The insurer has emphasised that the offerings are designed to meet local regulatory needs while leveraging international expertise and capacity.

An expanding market

The launch comes at a moment when the cyber insurance market is expanding but facing profitability pressures.

Munich Re projected global cyber premiums to surpass US$15 billion in 2024, with further growth expected as demand rises across sectors. In Canada, premiums grew from C$18 million in 2015 to C$550 million in 2023, according to the Insurance Bureau of Canada (IBC). However, the IBC also reported that between 2019 and 2023, cyber insurers recorded average combined ratios of 153%, reflecting losses that outpaced premium income.

At the same time, the Canadian cyber market is in what brokers describe as a “very soft” phase. Marsh reported that in the second quarter of 2025, Canadian cyber rates fell by about 3%, with buyers expanding coverage and negotiating lower retentions. This softening placed pressure on insurers to compete on price while maintaining underwriting discipline.

Globally, insurers are also grappling with challenges such as increasingly sophisticated cyberattacks, systemic risk from digital supply chains, and the potential impact of AI-driven threats. Reinsurers remain focused on cyber accumulation models and systemic exposures, especially as insurers broaden their product offerings.