HSB Engineering Insurance has launched a cyber insurance product – covering computer, data, and cyber risks all in one – marketed to small to medium-sized firms in the UK.

Hardware (including portables) and data corruption cover is included and the coverages include:

  • Data breach expense
  • Cyber crime
  • Cyber liability
  • Cyber event – loss of business income

HSB explained that there is a need for products like this in the SME market because 74 percent of small businesses have experienced a breach in the last 12 months and hackers often target smaller companies because they believe they are less likely to have robust cyber defenses.

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