HSB launches cyber coverage for connected commercial vehicles
HSB , part of Munich Re, introduced a cyber insurance product designed to protect internet-connected commercial vehicles from hacking and related business disruption.
HSB Commercial Cyber for Auto covers damage to vehicle systems, software, and data resulting from cyberattacks, as well as cyber extortion and identity theft. The coverage also includes business income loss and extra expenses when operations are interrupted, along with towing, alternative transportation, labor, and loss of use.
The product is aimed at small and mid-sized businesses operating connected fleets and is offered through insurers that partner with HSB as an add-on to business policies. It also provides access to cybersecurity resources and may cover upgrades to hardware or software following an incident.
“Cyberattacks on commercial vehicles are a real and growing threat. 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.” – Eric Hendricksen, commercial cyber practice lead for HSB.
