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?
First Party Coverages*
To cover the expense of responding to cybercrime.
Provides case management and reimburses expenses for out-of-pocket costs, legal expenses, lost wages, and child or elder care as a result of identity theft.
Third Party Coverages*
To cover legal costs if your clients get sued as a result of a cybercrime.
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.
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.