HSB Cyber Insurance
HSB Cyber Insurance is a cyber insurance product underwritten by HSB Engineering Insurance Limited (HSB EIL) (Munich Re (Germany)), available in UK. It is aimed at micro-companies and sole traders and small and medium-sized businesses. Coverage limits reach up to Bespoke; SME limits up to £5M typical.. The policy extends beyond standard cyber liability with Cyber crime / FTF. Policyholders get 2 bundled proactive services — Incident response and Crisis management — designed to reduce breach risk before a claim ever happens. The carrier holds an AM Best rating of A++ (Superior) – AM Best. The product signals support for NIS2/DORA regulatory requirements. It is distributed through insurance brokers.
Product Details§ 01
Advantages & Limitations§ 02
Advantages
- HSB Engineering Insurance Limited (HSB EIL): specialist provider of engineering and technology insurance; part of Munich Re group; A++ (Superior) AM Best; 20 years' cyber expertise.
- UK and Republic of Ireland specialist; also covers Isle of Man and Channel Islands.
- Broker-only distribution; cyber available via Acturis open market and HSB Fast Track for eligible e-trade risks.
- HSB Cyber Insurance: computer, data and cyber insurance policy all in one; comprehensive cover for SMEs with annual turnover up to £50M/€50M.
- Coverage (first- and third-party): virus/hacking/DoS attacks (not excluded as terrorism), data breach, privacy liability, regulatory investigations and fines, system damage and restoration, business interruption, social engineering/FTF, extortion costs.
- Expert advice and support on claim: IT, legal, forensic and media relations specialists.
- Non e-trade product (manual submission); dedicated team of technical underwriters.
- Insurers and MGAs: HSB Cyber Insurance also available as white-label product for insurers and MGAs seeking to add cyber to their portfolio.
Limitations
- SME-focused; annual turnover up to £50M/€50M.
- Non e-trade (manual submission via broker).
- UK, Republic of Ireland, Isle of Man and Channel Islands only.
Contact & Response§ 03
Frequently asked questions§ 04
+Who is HSB Cyber Insurance designed for?
HSB Cyber Insurance by HSB Engineering Insurance Limited (HSB EIL) targets micro-companies and sole traders and small and medium-sized businesses in UK. Geographic scope: UK, Republic of Ireland, Isle of Man, Channel Islands..
+What proactive security services are included with HSB Cyber Insurance?
The policy bundles 2 proactive services: Incident response and Crisis management. These preventive services are typically included in the premium.
+Does HSB Cyber Insurance help with NIS2 or DORA compliance?
HSB Engineering Insurance Limited (HSB EIL) indicates the following NIS2/DORA support for this product: UK Cyber Security and Resilience Bill advisory included..
+How can I buy HSB Cyber Insurance in UK?
HSB Cyber Insurance is sold through insurance brokers — broker contact: https://www.munichre.com/hsbeil/en/products/cyber-insurance.html. Compare it with alternatives in UK on Ryskly before approaching a broker.