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Cyber Insurance

Cyber security has become a key risk to businesses of all sizes. With 74% of small businesses having experienced a security breach in the last 12 months*, cyber attacks have become headline news.


Today, virtually all businesses collect and store personal information about customers, employees and others. The frequency of data breaches - the theft, loss or mistaken release of private information - is on the rise. But data breaches aren’t just a big business problem; small and medium-sized businesses with fewer data security resources are particularly vulnerable.


Whilst data losses for small to medium-sized businesses may not make the headlines, the potential financial cost and reputational impact of a cyber incident can be crippling. Firms such as accountants and lawyers might be perceived to hold more sensitive data, but all businesses could be at risk from a cyber attack or data breach by hackers, viruses or errant employees.


In response to the growing demand for cyber insurance, HSB Engineering Insurance has developed a computer, data and cyber policy. Specifically designed for small to medium-sized businesses, HSB Cyber Insurance offers broad coverage for cyber risks. Hardware (including portables) and data corruption cover provides protection for assets, whilst data breach expense, cyber crime, cyber liability and cyber event – loss of business income cover responds to cyber risks.


HSB Cyber Insurance provides:


  • Cover for the costs of dealing with data breaches and cyber liability claims
  • Cover for business losses from a cyber event
  • Cover that helps businesses deal with the impact of cyber crime
  • Cover for hardware and data corruption
  • Access to expert advice and support (e.g. IT, legal, forensic and media relations) when an incident occurs
  • Full claims support following an incident

* 2015 Information Security Breaches Survey – Department for Business, Innovation & Skills

HSB and BERG

Joey Tabone, Director - Business in the Community

We're working with The Prince of Wales' Business Emergency Resilience Group (BERG), part of Business in the Community (BITC).


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