HSB Cyber Suite provides comprehensive coverage for cyber risks
Includes cyber-attacks, data breaches and cyber extortion
Cyber protection offered through partner insurance companies
HSB Cyber Suite Designed to Meet Small Business Needs
TORONTO, September 22, 2021–(BUSINESS WIRE)–HSB Canada, part of Munich Re, has introduced HSB Cyber Suite, a comprehensive collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity theft, and cyber extortion.
It is available through insurance carriers that partner with HSB Canada to add the coverage to their commercial policies.
“Small businesses face many challenges. As more commerce is conducted online, vulnerabilities to cyber risk have become heightened,” said Derrick Hughes, vice president for HSB Canada. “Cybersecurity is complex, but we want to make it easier for small businesses to get comprehensive protection against cyber risks.”
Prevent Loss, Protect Income and Reputations
HSB Cyber Suite includes several optional coverage enhancements including:
Identity Recovery, providing case management services and financial resources to recover control of insureds’ identities after identity theft.
Business Income and Extra Expense coverage available during the period of restoration, in the event of a computer attack.
Electronic Media Liability for legal action alleging copyright, trademark, and other types of infringement, defamation, or other personal injury resulting from information displayed on a website.
Cyber Extortion, covering pre-approved negotiator or investigator costs and payments for eliminating ransomware or extortion threats.
A Holistic Solution from a Cyber Pioneer
HSB Cyber Suite is a turnkey cyber reinsurance solution for property-casualty insurers, including underwriting, marketing support, 24/7 claim service, and risk management. Customers have access to the eRiskHub® cyber resources website, and HSB’s extensive network of leading cyber incident response vendors.
HSB Canada is a pioneer in cyber insurance, with more than 15 years of experience providing cyber coverage and services.
HSB Canada, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB Canada’s insurance offerings include equipment breakdown, cyber risk and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). For more information, visit www.hsb.ca and connect on LinkedIn, Twitter and Facebook.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The Group consists of the reinsurance and ERGO business segments, as well as the asset manager MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to the 2019 Pacific typhoon season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyberattacks. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.