HSB Canada, a specialty insurer and part of Munich Re, has launched HSB CyberPro, a new, comprehensive solution offering insurance coverage and risk management services tailored for Canadian businesses.
In a statement, the company said the new product combines specialized cyber claims service, proactive threat monitoring, and risk mitigation tools developed from HSB Canada’s nearly two decades of experience in the cyber insurance sector.
It is being made available across Canada through brokers, specifically targeting businesses with revenues up to $2 billion in sectors like retail, hospitality, transportation, and construction, the firm added.
“The launch of HSB CyberPro with our strategic distribution partners will meet the needs of their customers with broad coverage that is uniquely customizable,” said Stephanie Banning, head of cyber practice for HSB.
Banning emphasized the confidence the coverage offers business owners in a volatile threat environment. “The coverage gives businesses the confidence to respond to an unexpected cyber attack.”
With its 150-year history and expertise in engineering, technology, and data, HSB Canada aims to use this new product to help clients prevent loss and manage the evolving risks posed by technological change.
HSB CyberPro, the company said, is designed to be agile and adaptable, helping customers navigate the rapidly changing landscape of regulatory, legal, and technological cyber risks.
The policy offers a variety of first- and third-party coverages, including protection against crucial risks such as business interruptions, cybercrime, system failures, data restoration, and event response costs.
In addition to the insurance policy, the offering includes the Cyber Safety risk management platform, which features active monitoring for system and website vulnerabilities, access to cybersecurity and legal experts, ransomware prevention services, and online assessment and training tools to help businesses proactively manage their risk.
