HSB CyberOne™ Protects Small Businesses from Cyber Attacks: New Product is Part of Hartford Steam Boiler’s Suite of Data Security Solutions

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HSB CyberOne™ Protects Small Businesses from Cyber Attacks

New Product is Part of Hartford Steam Boiler’s Suite of Data Security Solutions

HSB CyberOne™, a new cyber risk insurance coverage for small businesses, was announced today by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, as it expands its suite of products and services designed to protect smaller commercial organizations from the growing threat of information security exposures.

“Cyber attacks are a serious problem for small businesses, which often have limited security and technical resources,” said Greg Barats, president and chief executive officer of Hartford Steam Boiler. “We developed HSB CyberOne™ as a simple way for a business to help protect its computer systems. It’s a logical extension of Hartford Steam Boiler’s series of products for smaller businesses that cover identity theft, data breach and data risks from equipment breakdowns.”

Computer viruses and other computer attacks can result in lost business income and expenses to restore systems and recover data. With a small business at significant risk of losing critical information that is essential for daily operations, damaging its reputation and potentially being exposed to costly itigation, more companies are purchasing cyber insurance.

HSB CyberOne™ provides broad coverage with limits up to $100,000 to protect the risks typical of small organizations. It helps policyholders recover from damage to systems caused by a computer attack and also provides defense and liability coverage for certain lawsuits that allege third-party damage resulting from a failure by the insured to adequately secure its own computer system.

Because other insurers add HSB CyberOne™ to a group of their small business policies, it’s more affordable than products underwritten one policy at a time. It can be included as part of a business owners product (BOP) or a Commercial Multi-Peril (CMP) policy, making it convenient for customers and agents to access and easier for insurers to administer.

Note for the editorial staff:

For further questions please contact

Media Relations, HSB, Dennis Milewski
Tel.: +1 (860) 722-5567

Media Relations, Munich Reinsurance America, Terese Rosenthal
Tel.: +1 (609) 243-4339

 About HSB
Hartford Steam Boiler, a member of Munich Re’s Risk Solutions family since 2009, provides a range of specialty insurance coverages for business, home and farm. One of the world’s leading equipment breakdown insurers, HSB helps clients reduce risk through a unique combination of specialty coverages, engineering-based risk management strategies and loss reduction services. A.M. Best Company awarded the HSB Group of companies its highest financial rating, A++ (Superior).

 About Munich Re
In the U.S., Munich Re provides access to a full range of property and casualty reinsurance and specialty insurance products through Munich Reinsurance America, Inc., American Modern Insurance Group and Hartford Steam Boiler Group. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2012, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.2bn on premium income of around €52bn. It operates in all lines of insurance, with around 45,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the major insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2012, ERGO posted premium income of €19bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €214bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.

 Hartford, Connecticut, April 25, 2013

The Hartford Steam Boiler Inspection and Insurance Company
One State Street
P.O. Box 5024
Hartford, Connecticut 06102-5024
United States
www.hsb.com

Munich Reinsurance America, Inc.
555 College Road East
Princeton, New Jersey 08543-5241
United States
www.munichreamerica.com


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