Hartford, Conn., Feb 19 — HSB today announced a new cyber insurance coverage that protects internet-connected commercial vehicles from hackers and pays for lost business income resulting from cyberattacks.
HSB Commercial Cyber for Auto also covers cyber extortion, identity theft, and includes alternative transportation when targeted work vehicles can’t be operated.
“Cyberattacks on commercial vehicles are a real and growing threat,” said Eric Hendricksen, commercial cyber practice lead for HSB, part of Munich Re Group. “With millions of connected commercial cars and trucks on the road, cybercriminals could hack into apps and automobile connections. Business owners need to get ahead of this emerging risk to data security, operations, and vehicle safety.”
Comprehensive Protection for Commercial Fleets
HSB Commercial Cyber for Auto is designed to help small and medium-sized businesses recover from disruptions caused by auto-related cyberattacks.
Coverage for commercial vehicles includes:
Cyberattacks, including damage to the vehicle’s systems, devices, or data from a malware attack.
Cyber extortion demands for money or cryptocurrency to ransom content or access to vehicles.
Business income loss and additional expenses when operations are interrupted due to an auto cyberattack or extortion.
HSB Commercial Cyber for Auto also can pay for transportation costs, including towing, labor, and loss of use of vehicles, while cybersecurity services provide online resources to help stop cyberattacks.
Should an attack occur, HSB Commercial Cyber for Auto includes the cost to improve or upgrade hardware and software to help prevent future cyber incidents.
Cyber for Auto Insurance Fills a Coverage Gap
HSB Commercial Cyber for Auto fills a coverage gap for smaller businesses, which may not realize that many commercial insurance policies or vehicle warranties don’t protect them from a cyberattack on their vehicles.
The coverage is added to the business policies of insurers that partner with HSB to help their customers protect their commercial fleets and keep up with cybercriminals.
Visit HSB’s website for more information about HSB Commercial Cyber for Auto insurance coverage.