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Cyber Suite

Cyber insurance for small to mid-sized businesses

Available through our insurer partners,
HSB Cyber Suite offers a choice of seven coverages to provide multiple layers of insurance defense against complex, ever-evolving cyber risks.

What is covered?

A computer programmer looking through data
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Pays insureds for forensic IT, breach notification, fraud alert, case management services, legal counsel, PR services, regulatory and PCI fines and penalties.
Pays for data restoration, data re-creation and system restoration costs due to a computer attack that damages data and software; includes business interruption and PR services.
Covers insureds’ negotiator or investigator costs and payments for eliminating ransomware or extortion threat.
Third party coverage for legal actions by affected individuals or judgements brought by federal or regulatory entities.
Third party coverage triggered by network security legal action alleging insured’s computer security negligence; settlement and judgement costs.
Covers insureds’ settlement and defense costs for legal action alleging copyright or trademark infringement, defamation of a person or organization, or violation of a person’s right to privacy.
Identity theft services for business owners, case management and expense reimbursement for out-of-pocket costs, legal expenses, lost wages, and child or elder care.

Cyber criminals employ a multitude of attack methods and new threats are constantly emerging.
HSB Cyber Suite is a comprehensive cyber insurance program designed to provide protection from a wide range of cyber risks, tailor-made for small to mid-sized enterprises.

Cyber criminals do target smaller and medium sized firms. In fact, nearly one in five Canadian small businesses polled have been affected by a cyber attack or data breach in the last two years (IBC Leger poll 2019).

Methods used by cyber criminals


The cost of cyber risk events is significant. 72 percent of the small to mid-sized businesses that said they were hacked spent $5,000 or more. And 38 percent of those hacked spent over $50,000 to respond. An incident needs to be investigated by a forensic IT specialist; legal counsel is often required; and notifications to clients need to be sent swiftly. Victims of cyber attacks will attest that often the most expensive and time-consuming part of the ordeal involves data recovery and reconstruction. Plus, typically once they’re aware of a cyber event, businesses shut down their systems, leaving them unable to operate, interrupting their income.

Interested in learning more?