HSB Cybersecurity A Groundbreaking Cybersecurity Solution
HSB, a specialty insurance provider under Munich Re, has launched HSB Cybersecurity™, a cutting-edge cyber insurance product tailored to meet the complex cybersecurity needs of small and medium-sized businesses (SMBs). This innovative offering brings together expert cyber claims services, active threat monitoring, and risk mitigation tools that leverage nearly two decades of HSB’s experience in the cyber insurance sector.
Designed for SMBs with revenues up to $2 billion, HSB Cybersecurity is available across the United States through select brokers and wholesalers on a surplus lines basis. The solution aims to offer SMBs robust protection against an evolving landscape of cyber threats. Daniel Law, head of the cyber practice for HSB Custom Risk Solutions, highlighted the company’s expertise, stating, “HSB has quietly been the partner behind some of the most successful cyber insurance products for nearly 20 years.” He further emphasized the flexibility and customizability of HSB Cybersecurity, which empowers businesses to confidently address unexpected cybersecurity incidents.
Comprehensive Coverage and Industry Focus
HSB Cybersecurity has been designed to cater to a wide range of industries, including retail, hospitality, transportation, wholesale trade, construction, and non-profit organizations. This product provides extensive first- and third-party coverages to address diverse cybersecurity challenges. Key protections include safeguards against cybercrime, business interruptions, system failures, data restoration, and event response costs. Other areas of coverage encompass legal counsel, computer forensics, crisis management, and data recovery.
The insurance solution’s agile nature allows it to adapt to the rapidly changing landscape of regulatory, legal, and technological risks, ensuring clients stay ahead of potential threats. HSB Cybersecurity is positioned as a comprehensive and adaptable tool to help SMBs navigate the intricate dynamics of cybersecurity risks.
Advanced Risk Management Features
In addition to traditional insurance coverage, HSB Cybersecurity offers a state-of-the-art Cyber Safety risk management platform. This platform includes active system and website vulnerability monitoring, access to cybersecurity and legal experts, and ransomware prevention services. The service also provides security policies, online assessment tools, and training resources to enhance client preparedness and resilience.
With its holistic approach to risk management and extensive coverage options, HSB Cybersecurity aims to redefine cybersecurity insurance for SMBs. The launch underscores HSB’s commitment to equipping businesses with the tools and confidence needed to tackle increasingly sophisticated cyber threats. As Daniel Law noted, this strategic initiative aligns with HSB’s goal to provide solutions that empower businesses in the digital age.
