HSB Launches CyberPro: Affordable Cyber Insurance for UK & Ireland Micro-SMEs
HSB, a leading engineering and technology insurer, has introduced HSB CyberPro, a comprehensive cyber insurance and incident response solution tailored for micro and small businesses in the UK and Ireland with revenues up to £10 million. This new offering aims to protect these businesses from the growing threat of cyber risks, data breaches, and IT system vulnerabilities.
HSB CyberPro combines financial protection with direct access to cybersecurity experts, ensuring small businesses can effectively respond to cyber incidents. The policy provides 24/7 assistance, 363 days a year through a dedicated helpline for incident response services. This includes support from a team of technical underwriters, ready to assist businesses in managing cyber incidents.
Micro-SMEs often lack the financial and technical resources to defend against data breaches and cyberattacks. HSB CyberPro addresses this gap, offering a solution that is affordable and accessible. Despite increased cybersecurity awareness, 55% of surveyed businesses anticipate a cyber attack within the next year, highlighting the need for such protection. Only 31% of micro-businesses have a documented incident response plan, and only 46% have provided staff cybersecurity training in the past year, further emphasizing the importance of HSB CyberPro's incident response services.
HSB CyberPro is available to brokers to e-trade via the Acturis open market and HSB Fast Track solutions. For businesses seeking support for a suspected cyber incident, 62% would contact external technical experts first, making HSB CyberPro's expert support a valuable asset.
HSB CyberPro is a vital addition to the market, offering micro and small businesses robust cyber protection and incident response services. With 84% of respondents expecting negative impacts like operational disruption and lost revenue from a cyber attack, having access to expert support and financial protection is crucial. Businesses can now better prepare for and mitigate the risks associated with cyber threats, thanks to HSB's innovative solution.
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