The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has released HSB CyberOne, a cyber risk insurance coverage for small businesses. CyberOne is designed to protect smaller commercial organizations from information security exposures.
HSB says CyberOne provides broad coverage, with limits up to $100,000, to protect the risks typical of small organizations. It helps policyholders recover from damage to systems caused by a computer attack. It provides defense and liability coverage for certain lawsuits that allege third-party damage, resulting from a failure by the insured to adequately secure its own computer system.
Because other insurers add CyberOne to a group of their small business policies, says HSB, it’s more affordable than products underwritten one policy at a time. It can be included as part of a business owners product or a Commercial Multi-Peril policy, making it convenient for customers and agents to access and easy for insurers to administer.
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