Cyber-attacks can occur to every size business, including many types of mid-sized firms, not just large companies. The high cost of cyber-attacks makes going without cyber insurance a real risk. HSB Total Cyber™ was specially designed to provide comprehensive coverage for U.S. based companies with annual revenues from $10 million to $500 million.
HSB Total Cyber™ provides comprehensive coverage for these pervasive cyber threats:
Coverages for data breach and identity theft
- Data Breach Response Expenses covers notifications, monitoring and other services.
- Data Breach Liability covers litigation and settlement costs resulting from victims affected by a breach who bring a claim or lawsuit against the insured.
- Also covered are costs associated with Regulatory and Payment Card Industry (PCI) fines and penalties, PCI assessments, Reputational Harm and Crisis Management.
- Identity Recovery pays for expenses and expert help for a victim to restore credit standings and identity records.
Coverages for cyber-attacks or threats of attack
- Computer Attack covers data restoration or re-creation, system restoration, loss of business, and even includes payment for public relations help to manage the insured’s reputation.
- Future Loss Avoidance pays for improvements to the insured’s computer system following a computer attack to mitigate future losses, up to 10% of the Computer Attack payment, subject to HSB approval.
- Cyber Extortion pays the amount demanded of an insured under threat of a computer system attack - including the cost of an investigator.
Coverage for system failure
- System Failure pays for business income loss resulting from unintentional computer system outages — not from a computer attack — lasting more than 10 hours.
Protection for criminal deception
- Misdirected Payment Fraud coverage pays for direct financial loss resulting from criminal deception using email, facsimile or telephone communications to induce an insured, or a financial institution with which an insured has an account, to send money or divert a payment.
- Computer Fraud covers the direct financial loss resulting from the fraudulent entry or change to data or instructions within the insured’s computer system.
- Telecommunications Fraud provides coverage for necessary payments to the insured’s telephone service provider resulting from a computer attack on the insured’s phone system.
Defense and settlement costs for cyber liability
- Network Security Liability provides for claims that “negligent failure of computer security” caused third-party damage.
- Electronic Media Liability covers claims that information displayed electronically on a website infringes on or violates their rights or defames them. Full Media Liability coverage extends coverage to include claims arising from non-electronic media.
Risk Management services
As part of our cyber coverage programs, HSB offers loss prevention services that include pre-event legal and cybersecurity risk consulting as well as tools that can help prevent cyber attacks before they occur, including:
- Training to improve employee awareness
- Monitoring to scan for vulnerabilities in web applications
- Compliance resources
HSB Total Cyber™ claims service is enhanced by our partnerships with industry-recognized legal, forensic and cybersecurity organizations offering 24/7 response to a cyber event in order to mitigate loss, maximize use of coverage limits, and speed recovery.
For more information or a quote contact your HSB Custom Accounts Division representative.
Send quote requests to HSBTotalCyber@hsb.com