HSB Home Cyber Protection™ adds cyber insurance coverage to homeowners and renters insurance policies.
PRODUCT: HSB Home Cyber Protection™
COMPANIES: HSB partners with national and regional personal lines carriers to bring home cyber protection to homeowners and renters
BEST RATING: A+
AVAILABILITY: Appointed agents and brokers that work with client companies of HSB.
FOCUS: HSB Home Cyber Protection™ has been adapted, designed and priced specifically for homeowners, renters and other personal lines consumers.
In addition to a repertoire of coverages suitable for any homeowner or renter, the product includes groundbreaking home cyber coverage for income lost by a social media influencer in a cyberattack or the takeover of a social media account.
“Social influencers want attention, but not from cybercriminals," says James Hajjar, assistant vice president for HSB, part of Munich Re. “Hackers and other digital predators target social media. We're filling the coverage gaps with insurance that follows customers with the protection they need."
COVERAGE DETAILS: The digital future is here—and today's homes, coupled with our reliance on the internet, create a world full of cyber risks that leave homeowners more vulnerable than ever before.
HSB Home Cyber Protection™ adds significant cyber insurance coverages to a traditional homeowners and renters insurance policy. Coverages include:
- Online fraud. Pays for financial losses resulting from identity theft, phishing schemes, illegal bank and credit card transfers and other deceptions.
- Computer attack. Removes malware and reprograms computers and tablets, Wi-Fi routers or other internet access points.
- Home systems attack. Restores devices connected to the internet, including smartphones, thermostats, smart appliances, and security and monitoring systems.
- Cyber extortion. Provides professional assistance to respond to a ransomware attack and payment of the ransom—when pre-approved.
- Data breach. Pays for notification costs and recovery services when private non-business data entrusted to an individual is lost, stolen or published.
- Identity recovery. Pays for the cost of recovering from identity theft and provides full-service identity theft restoration services.
- Home title fraud. Provides coverage for home title fraud costs resulting from identity theft, including attorney and court filing fees for the recovery of the title.
- Cyber bullying. Pays for the costs of recovery from cyberbullying, from psychiatric counseling services and legal expenses to temporary relocation expenses, social media monitoring software and more.
- Social media income interruption. Includes coverage for social media income loss resulting from a cyberattack or the account takeover of a social media influencer.
HSB also offers services to help homeowners avoid or minimize the risks, and get them back to normal if cybercrime occurs, such as an identity recovery helpline, dark web monitoring and credit monitoring.
UNDERWRITING: HSB's carrier partners make the coverage available on an endorsement basis to homeowners and renters. There are no eligibility requirements for the standard limit offering of $25,000.
TARGET: Homeowners and renters, as well as individuals who use social media to generate income.
COVERAGE TERRITORY: Coverage must be written on a U.S. domiciled homeowner or renter, but coverage will follow that person anywhere in the world.
COVERAGE AVAILABILITY: Available in all 50 U.S. states.
CONTACT: Customer Solution Center; 800-HSB-1866.
Will Jones is editor-in-chief.