
HSB Adds New Cyber Insurance Coverage for Consumers
09/10/2024
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- HSB Home Cyber Protection™ helps families respond to online fraud
- Cyber for Auto covers emerging risks in today’s connected vehicles
- Counseling for cybercrime victims who suffer emotional stress
- Complimentary cybersecurity tools can spot and avoid cyber attacks
“Home Cyber Risks Around Every Corner”
HSB has expanded its cyber insurance coverage for consumers with new protections for connected vehicles, cybercrime victims, digital wallets, and other emerging risks, the company said today.
HSB Home Cyber Protection™ offers a suite of innovative cyber coverages and services for online fraud, cyber extortion, home systems and computer attacks, data breach, identity recovery, home title fraud, social media income interruption, and other cyber exposures.
“Cyber risks hide around every corner of our homes - Wi-Fi connected laptops, mobile phones, smart appliances, security systems, even baby monitors,” said James Hajjar, chief product and risk officer for HSB, part of Munich Re. “It’s important that cyber insurance keep pace with emerging cyber threats.”
Broader Coverage for Today’s Cyber Exposures
Online scams and other cybercrimes are on the rise with the growth of Artificial Intelligence (AI).
The FBI’s Internet Crime Complaint Center reports a 10 percent increase in online fraud complaints from 2022 to 2023, while potential losses rose 22 percent to $12.5 billion.
HSB Home Cyber Protection extends homeowners and renters insurance to help cover losses stemming from online fraud and compromised data on personal computers, mobile devices, and other connected home technology, and to cover damage to software and operating systems.
HSB Home Cyber Protection includes new coverages:
- Cyber for Auto - HSB’s unique coverage for attacks against vehicles and protection for personal data stored in today’s connected vehicles is included with HSB Home Cyber Protection.
- Cyber Victim Counseling - Victims of cybercrimes may experience significant emotional and mental stress and HSB’s coverage can pay for mental health and financial counseling.
- Digital Wallets - Increasingly, digital wallets account for ecommerce and point of sale payments. HSB’s cyber coverage offers protection when someone’s digital wallet is hacked.
- NFT Collectibles - Digital art collections are becoming a target for cyber criminals. HSB Home Cyber Protection can respond in the event someone is defrauded of these assets.
- Complimentary Cybersecurity and Privacy Tools - Zeguro Cyber Navigator is a cloud-based platform with loss-prevention resources, a 24/7 call line, and credit monitoring. Discounts for a virtual private network (VPN) and personal data removal service are offered through industry-leading partners that focus on consumer cybersecurity and privacy.
HSB Home Cyber Protection with Zeguro Cyber Navigator is available through insurance companies that partner with HSB. For more information visit HSB’s website.
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). For more information, visit www.hsb.com and connect on LinkedIn, X 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 asset management 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 Hurricane Ian in 2022. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyberattacks. 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, September 10, 2024
The Hartford Steam Boiler Inspection and Insurance Company
One State Street
P.O. Box 5024
Hartford, Connecticut 06102-5024
United States