Reinsurance News

Munich Re’s HSB expands small business cyber cover

28th September 2020 - Author: Charlie Wood

Munich Re subsidiary HSB has announced an expansion of its cyber insurance and loss prevention services for small and mid-size businesses.

HSB Engineering InsuranceHSB Total Cyber now includes new coverages for computer attacks, data system upgrades, and system failures from unintentional computer outages.

HSB Total Cyber is available to US-based SMBs through independent insurance agents and brokers and helps pay the costs to prevent, investigate, defend and recover from cyber-attacks, extortion, fraud and other cyber-crimes.

The coverage also provides a range of free or discounted legal and technical loss prevention services.

These including consulting on cyber risks, cybersecurity improvements, employee training, and compliance resources to help meet contract and regulatory obligations.

“The loss of essential business information and systems can result in financial loss and even ruin,” said Timothy Zeilman, vice president for HSB, part of Munich Re.

“Data security is critical, and every business should keep up with the latest protections for evolving cyber risks.”

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