Cyber Risk Insurance

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Cyber risk insurance for small businesses



HSB CyberOne™ coverage is a cyber risk insurance solution designed by Hartford Steam Boiler to help small businesses recover from damage to data and systems caused by a computer attack. This cyber threat protection also provides defense and liability coverage for third-party lawsuits alleging damage due to the insured inadequately securing its computer system.

What is a computer attack?

A computer attack, also known as a cyber attack – is defined as any of the following:

  • An unauthorized person gaining access to the insured’s computer system
  • A virus or other malware attack
  • A denial of service attack
Cyber risk is a growing issue

Virtually every business relies on data and computer systems. When these systems experience a virus or other computer attack, a business is at real risk of losing critical information that is essential to daily operations and potentially exposing itself to third party liability. Cyber attacks are a serious problem for small businesses, which often have limited security and technical resources. Light security makes them easy targets.

Computer viruses are a growing problem, and a cyber attack can significantly impact a business’s bottom line. System and data recovery can result in lost income, and can tally thousands in recovery costs. What’s more, liability from insufficient systems security can lead to expensive lawsuits. You can view examples of attacks on businesses here (PDF, 330 KB).

What does cyber risk insurance cover?

HSB CyberOne™ coverage provides broad affordable cyber liability protection specially designed for small businesses to address the growing threat of information security exposures. This cyber liabilty insurance helps pay for the costs associated with computer restoration and data recovery. And, the coverage also protects against third party liabilities a business might have as a result of a failure of system security.

In the event of a computer attack, HSB CyberOne™ pays for:

  • Data Recovery from electronic sources
  • Data Recreation from nonelectronic sources
  • System Recovery
  • Business Income
  • Public Relations
Coverage for third party liability

Third party coverage can be triggered by a “network security liability suit” — a civil proceeding, an alternative dispute resolution proceeding or a written demand for money alleging that a negligent failure of the insured’s computer security allowed one of the following to occur:

  • A breach of third party business data
  • An unintended propagation of malware
  • A denial of service attack in which the insured unintentionally participated


In the event of a network security liability suit, HSB CyberOne™ insurance covers costs of defense, settlement and judgment. Defense is provided within the coverage limits and third party coverage can be offered separately from the first party coverage.

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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.