HSB introduces cyber insurance for cars

Specialty insurer HSB is introducing Cyber for Auto, a new coverage designed to cover attacks on personal data that is connected and stored in a vehicle.

Core coverages can include cyber-attacks, including malware and viruses, and ransomware demands to release information or threats to make confidential data public.

The new coverage has not been approved by any state insurance departments.

“Automakers continue to integrate new technologies into today’s vehicles. With each added system or connection, there are new vulnerabilities that hackers and other cyber criminals can exploit. Cyber for Auto helps insurers and their customers stay ahead of these new cyber exposures.” – James Hajjar, chief product and risk officer for the Treaty Division of HSB, part of Munich Re.