Cyber Insurance for Mid-Sized Businesses

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HSB Total Cyber™: Comprehensive cyber risk insurance for mid-sized companies

Computers, networks and electronic data are essential to doing business. But that reliance on digital tools also brings serious cyber risks, like hacking and data breaches. Mid-size businesses are particularly enticing targets for cyber thieves.

Why? Hackers see mid-size businesses as more vulnerable than larger companies, and know that mid-size businesses’ computer systems could potentially be used as gain access to their larger clients’ systems.

Now more than ever, getting the right cyber protection in place is a critical need for mid-size business. So HSB designed the new Total Cyber™ to provide comprehensive coverage and multiple layers of insurance defense against the complex, ever-evolving cyber risks that mid-size businesses face.

Total Cyber™ is the culmination of HSB’s decade of experience providing technically driven insurance solutions to protect against data breaches and cyber attacks. It combines seven separate areas of coverage that can be flexibly configured to give clients the cyber insurance they need.

Data breach protections

HSB Total Cyber™ includes three available coverages to help businesses affected by data breaches:

  1. Data Breach Response Expenses covers notifications, monitoring and other services.
  2. Identity Recovery pays for expenses and expert help for a victim to restore credit standings and identity records.
  3. Data Breach Liability covers litigation and settlement costs resulting from victims affected by a breach who bring a claim or lawsuit against the insured.
Cyber attack recovery

Two additional HSB Total Cyber™ coverages offer broad protection for losses caused by cyber attacks or threats of attack:

  1. Computer Attack covers data restoration or re-creation, system restoration, loss of business, and even includes payment for public relations help to manage the insured’s reputation.
  2. Cyber Extortion pays the amount demanded of an insured under threat of a computer system attack — including the cost of an investigator.
Cyber liability defenses

HSB Total Cyber™ covers defense and settlement costs for two other cyber liability exposures:

  1. Network Security Liability provides for claims that “negligent failure of computer security” caused third-party damage.
  2. Electronic Media Liability covers claims that information displayed electronically on a website infringes on or violates their rights, or defames them.
Limits and liability

HSB Total Cyber™ is available for companies with revenues of up to $250 million, although we anticipate most companies will typically have revenues from $10 million to $150 million. Typical limits range from $1 million to $5 million, but higher amounts are available on an account-by-account basis.

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