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Hartford Steam Boiler Inspection and Insurance Co. said it has launched HSB Total Cyber, an insurance product that offers mid-size companies coverage for multiple types of data and cyber exposures.
HSB Total Cyber provides cyber and information security coverage including, data breach response and liability, identity theft, computer attack, cyber extortion, and network security and electronic media liability in one policy. It is designed for businesses with revenues of $10 million to $150 million, HSB said in a statement Wednesday.
“The cyber market is the Wild West of insurance with so many different types and levels of coverage,” Timothy Zeilman, HSB vice president and counsel said in the statement. “Medium sized companies, meanwhile, are squeezed between expensive cyber policies designed for big organizations and low-cost insurance packaged for small businesses. HSB Total Cyber helps fill that gap with a single policy that includes a variety of essential coverages that a mid-size company needs and can afford.”
Lloyd's of London has developed a set of common core data requirements for cyber risks, it announced Tuesday.