Munich Re’s HSB expands cyber offering as potential losses from the sector rise
- July 2, 2025
- Posted by: Saumya Jain
- Category: Insurance
HSB, a multi-line specialty insurer and part of reinsurance giant Munich Re, has expanded its cyber insurance coverage with new protections for connected vehicles, cybercrime victims, digital wallets, and other emerging risks.
HSB Home Cyber Protection offers a mix of innovative cyber coverages and services for online fraud, cyber extortion, home systems and computer attacks, data breaches, identity recovery, home title fraud, social media income interruption, and other cyber exposures.
James Hajjar, Chief Product and Risk Officer for HSB commented: “Cyber risks hide around every corner of our homes – Wi-Fi connected laptops, mobile phones, smart appliances, security systems, even baby monitors. It’s important that cyber insurance keep pace with emerging cyber threats.”
The insurer stated that this product was introduced due to the rise of online scams and other cybercrimes driven by the growth of artificial intelligence (AI).
The FBI’s Internet Crime Complaint Center reports a 10% increase in online fraud complaints from 2022 to 2023, with potential losses rising 22% to $12.5 billion.
HSB Home Cyber Protection extends homeowners’ and renters’ insurance to help cover losses stemming from online fraud, compromised data on personal computers, mobile devices, and other connected home technology, and to cover damage to software and operating systems.
The new coverage also includes NFT Collectibles, as digital art collections are becoming a target for cyber criminals. HSB Home Cyber Protection can respond if someone is defrauded of these assets.
The product, Zeguro Cyber Navigator, is a cloud-based platform with loss-prevention resources, a 24/7 call line, and credit monitoring. Discounts for a virtual private network (VPN) and personal data removal service are offered through industry-leading partners that focus on consumer cybersecurity and privacy.
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