HSB Expands Cyber Coverage

• HSB Cyber Suite is tailored for small and mid-size businesses
• Enhanced coverage includes cryptojacking and business impersonation fraud
• “Micro Cyber” option designed for underserved smallest businesses
• Active threat monitoring for cybersecurity risks
• Easy and affordable coverage is bundled with commercial policies

Only about half of small business owners purchase cyber insurance, according to a survey by HSB , with cost and complexity among the top reasons they pass up the coverage.

In response, the specialty insurer today launched the latest version of HSB Cyber Suite, with expanded cyber protection that is easy and affordable for small businesses.

“It doesn’t matter if a business has five or five hundred employees,” said James Hajjar, chief product and risk officer for HSB , part of Munich Re, “every organization deserves comprehensive cyber insurance. We have designed HSB Cyber Suite with the right mix of quality coverage, value, and flexibility to help small employers keep up with today’s evolving cybersecurity risks.”

HSB Cyber Suite is available through U.S. commercial insurance carriers that partner with HSB to add the coverage and services to their small business policies.

They can tailor the coverage to the specific cyber risks and operational needs of their small business policyholders, providing broad insurance protection, flexible limits, active threat monitoring, loss prevention tools, and HSB’s in-house cyber experts available 24/7 with claims support.

HSB constantly refines and expands its cyber insurance, adding new protection including:

• Executive Computer Fraud
• Invoice Manipulation
• Business Identity Theft Liability
• Business Impersonation Fraud
• Cryptojacking coverage

HSB Cyber Suite also offers a new “Micro Cyber” option, which offers small businesses with limited cyber exposure meaningful coverage for computer attacks, data breach, and identity theft.

The results of an HSB cyber survey conducted by The Harris Poll showed this simple and affordable cyber coverage is needed for this underserved market.

Although about half (54 percent) of respondents had a cyber insurance policy, there was a sharp divide between micro businesses and other small employers.

Only 27 percent of micro businesses (5 employees or less) had cyber coverage compared with 60 percent of small businesses (6-50 employees), and 79 percent of mid-size businesses (51-500 employees).

When asked what prevented them from purchasing cyber insurance, 30% of the respondents cited the coverage was too expensive, 26% didn’t know the coverage existed, 12% were unsure where to purchase, and 10% cited it was complicated and confusing.

HSB Cyber Suite makes it easy for commercial lines insurers to provide small business clients with a bundle of cyber coverages for protection against complex cyber risks.

The new Micro Cyber option is a streamlined version of HSB Cyber Suite that offers essential cyber protection for small businesses that may lack cyber insurance.

For more information about HSB Cyber Suite visit HSB’s website.

Hartford Steam Boiler (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 158-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.

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. Munich Re leverages its strengths to promote its clients’ business interests and technological progress. Moreover, Munich Re develops covers for new risks such as rocket launches, renewable energies, cyber risks, and artificial intelligence. In the 2024 financial year, Munich Re generated insurance revenue of €60.8bn and a net result of €5.7bn. The Munich Re Group employed about 44,000 people worldwide as of 31 December 2024.

Hartford, Connecticut, July 16, 2025

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

www.hsb.com