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.
