I am not sure that Norton can stop your hotmail account from being hacked since Norton is there to protect your PC and apps running on it and not
www.hotmail.com.
I run Norton NIS rather than Norton 360 but I read that Norton 360 does protect the PC. However, I am not sure it is as good as Norton NIS. With that said, if somehow, a hack of your hotmail account caused something bad to be downloaded to your PC then Norton should have protected you against it.