The enhanced HSB Total Cyber includes coverage for system outages, improvements to computer systems after a cyberattack, misdirected payments due to computer fraud
Munich Re / Königinstraße 107, München View from Königinstraße. (Credit: Wzwz/Wikipedia.)
HSB, a part of Germany-based reinsurance company Munich Re, has expanded its HSB Total Cyber, a cyber-risk insurance policy designed for small and mid-sized businesses (SMBs).
The expanded cyber-risk insurance includes new coverage for computer attacks, data system upgrades, and system failures from unintentional computer outages.
According to the company, HSB Total Cyber coverage has been expanded with several new coverages in response to the emerging new cyber threats.
The upgraded plan includes system failure for business income loss due to unintentional computer system outages for more than eight hours, not from a computer attack.
Also, the policy provides coverage for improving the computer systems after a cyber-attack, to prevent future losses and misdirected payments due to computer fraud.
HSB vice president Timothy Zeilman said: “The loss of essential business information and systems can result in financial loss and even ruin. Data security is critical, and every business should keep up with the latest protections for evolving cyber risks.”
HSB Total Cyber provides legal and technical services to prevent loss for SMBs
The company offers HSB Total Cyber to SMBs in the US, through independent insurance agents and brokers, to prevent, investigate, defend and recover from cyber-attacks, extortion, fraud and other cyber-crimes.
The insurance policy offers legal and technical services to prevent the loss, including consulting on cyber risks, cybersecurity improvements, employee training, and compliance resources.
An experienced team supports the HSB Total Cyber claims service, while a partnership with legal, forensic and cybersecurity organisations, provide a continuous response to cyber events including data breach, identity theft and computer attacks.
HSB is a speciality insurer and provider of inspection, risk management, IoT technology services, cyber insurance and loss prevention services for SMBs. The company offers equipment breakdown, cyber risk, speciality liability and other coverages.