Munich Re’s HSB launches comprehensive cyber insurance solution for SMBs

HSB, a multi-line specialty insurer and part of the reinsurance giant Munich Re, has introduced HSB CyberPro™, a new cyber insurance option for commercial clients seeking comprehensive coverage against evolving cybersecurity risks.

HSB CyberPro combines expert cyber claims service, active threat monitoring, and risk mitigation tools developed by HSB over nearly two decades in the cyber insurance sector.

This coverage is available nationwide through select brokers and wholesalers on a surplus lines basis, targeting small and medium-sized businesses (SMB) with revenues of up to $2 billion.

Daniel Law, head of the cyber practice for HSB Custom Risk Solutions, stated, “In addition to writing cyber in the primary market since 2016, HSB has quietly been the partner behind some of the most successful cyber insurance products for nearly 20 years.”

He added, “The launch of HSB CyberPro with our strategic distribution partners will meet the needs of their customers with broad coverage that is uniquely customisable to give businesses the confidence they need to respond to an unexpected cybersecurity incident.”

Designed for industries such as retail, hospitality, transportation, wholesale trade, construction, and non-profit organisations, HSB CyberPro is agile and adaptable, enabling customers to navigate a rapidly changing landscape of regulatory, legal, and technological cyber risks.

HSB CyberPro offers a variety of first- and third-party coverages, including protection against cybercrime, business interruptions, system failures, data restoration, event response costs, legal counsel, computer forensics, data recovery, crisis management, and other related risks.

The coverage also includes a Cyber Safety risk management platform, featuring active monitoring for system and website vulnerabilities, access to cybersecurity and legal experts, ransomware prevention services, security policies, and online assessment and training tools.

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