Munich Re subsidiary, Hartford Steam Boiler Inspection and Insurance (HSB) has introduced a new personal lines cyber insurance program for consumers.
HSB home cyber protection provides a suite of cyber coverage and services for computer attacks, cyber extortion, online fraud and the breach of personal information involving smart phones, computers and connected home devices.
The coverage will be offered for computer attack to remove malware and reprogram computers and tablets, Wi-Fi routers or other Internet access points.
It can be used for home systems attack to restore devices connected to the Internet, including smart phones, thermostats, smart appliances and security and monitoring systems.
The new insurance program is provided for data breach, including forensic IT and legal reviews, notification and recovery services when private non-business data entrusted to an individual is lost, stolen or published.
The coverage is also provided for cyber extortion with professional assistance, quickly responding to a ransomware attack and payment of ransom when approved.
In addition, it is offered for online fraud for losses due to identity theft, phishing schemes, illegal bank and credit card transfers, forgery, counterfeit currency and other deceptions.
The new cyber insurance suite is added to the homeowners or renters policies of insurance companies, which partner with HSB. It will cover the individuals and family members insured by those policies.
HSB vice president Timothy Zeilman said: "In today’s connected world, phones, computers and other networked devices are vulnerable to attack.
"The Internet of Things and smart home equipment increase that threat. Yet, until now there hasn’t been a comprehensive cyber insurance policy designed for consumers."
Image: HSB has introduced new suite of cyber coverage and services for consumers. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.