HSB Canada, part of Munich Re, has launched HSB Cyber Suite, a comprehensive collection of cyber insurance and services designed to protect small and medium businesses against cyber attacks, data breaches, identity theft and cyberextortion.
HSB Cyber Suite is a turnkey cyber reinsurance solution for P&C insurers, providing underwriting, marketing support, 24/7 claims service and risk management. It is available from insurance companies who partner with HSB Canada to add coverage to their commercial policies.
“Small businesses face many challenges. As commerce takes place online, vulnerabilities to cyber risk have increased, ”said Derrick Hughes, vice president of HSB Canada. “Cyber security is complex, but we want to make it easier for small businesses to obtain comprehensive protection against cyber risks. “
HSB Cyber Suite includes several optional coverage enhancements, including:
- Identity recovery, providing case management services and financial resources to regain control of the identity of policyholders after identity theft.
- Business income and additional expenses coverage available during the restoration period, in the event of a computer attack.
- Liability of electronic media 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 costs and pre-approved payments from the negotiator or investigator to eliminate ransomware or extortion threats.
Customers have access to the eRiskHub® IT resources website and HSB’s extensive network of leading cyber incident response providers.
HSB Canada has over 15 years of experience in providing cyber services and coverage.
About HSB Canada
HSB Canada, a subsidiary of Munich Re, is a specialist multi-line insurer and provider of inspection, risk management and Internet of Things (IoT) technology services. HSB Canada’s insurance offerings include equipment breakage, cyber risks and other coverages. HSB combines its engineering expertise, technology and data to design inventive insurance and service solutions for existing and emerging risks posed by technological change.
Source: HSB Canada
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