HSB Extends Availability of Identity Theft Insurance

• HSB Identity Recovery Coverage protects business employees, family members, college students, alumni association members
• New HSB service options monitor credit, dark web
• Almost one-quarter of U.S. consumers are victims of identity theft
• Licensed investigators help individuals reclaim personal identity

HSB Identity Recovery Coverage, which provides identity theft insurance and related services for employees of a business, has been extended to family members and other groups including membership associations, university students and alumni, HSB, part of Munich Re, announced today.

The coverage available through insurance agents and brokers also has been expanded to combine expense reimbursement with additional identity theft detection services that can monitor personal identity records and help individuals respond if they become victims of identity theft.

“Identity thieves are always finding new ways to steal personal data and exploit that information,” said David Mercier, senior vice president for HSB. “It’s a crime that’s not going away. So, it’s important for insurance coverage to stay ahead of changing risks.”

A recent HSB cyber survey shows that 23 percent of individuals have had their personal identity stolen – the third straight increase since the company began nationwide polling of consumers.

Identity theft victims need help to regain control of their identity and credit standing. People can spend months, even years, and thousands of dollars dealing with identity theft and fraud.

The new HSB Identity Recovery Coverage includes four coverage and service components:

• Identity recovery help line operated by experienced counselors who can answer questions and provide information and resources.
• Case management services to guide the victim through the process of restoring their identity.
• Expense reimbursement for out-of-pocket costs, legal fees and other financial charges.
• Optional monitoring services provided by Kroll, a global leader in cyber response, including access to credit monitoring, dark web monitoring and other monitoring capabilities to help individuals spot signs of identity theft.

In addition to being offered through employers for their employees and family members, HSB Identity Recovery Coverage is now available for alumni and other membership associations, colleges and universities, and other groups of individuals.

HSB Identity Recovery Coverage is currently available in 47 states with regulatory approvals expected throughout the United States by early summer 2020.

HSB, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB’s mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions and consumers. HSB holds A.M. Best Company’s highest financial rating, A++ (Superior). Connect with HSB on LinkedIn, Twitter and Facebook.

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake through to the 2019 Pacific typhoon season. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyberattacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.

Hartford, Connecticut, June 16, 2020

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

www.hsb.com