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HSB Cyber Suite adds coverage for payment fraud
Misdirected payment fraud and computer fraud are growing problems
HSB Cyber Suite, a comprehensive insurance program combining coverage and services for data breach, identity recovery and cyber attacks, has expanded its protection to include misdirected payment fraud, computer fraud and extended business income recovery.
Employees fooled into paying out funds
Misdirected payment fraud covers direct financial loss resulting from criminals hacking a business computer system and tricking employees with emails or phone calls into sending money or diverting payment into a phony account.
Payment fraud is getting worse
“Fraudulent payments are a growing problem for businesses,” said Timothy Zeilman, vice president for HSB. “Whether it’s fooling employees with emails or phone calls or hackers stealing a company’s cash, businesses and institutions need more insurance protection to limit their losses.”
Longer coverage period for lost business income
HSB Cyber Suite also has extended Loss of Business Income coverage. That can include covered business income not recovered during the restoration period for up to 180 days after the attack.
HSB Cyber Suite covers a range of cyber risks
Our coverage is designed to protect small to mid-sized enterprises from a wide range of cyber risks, including data breach, cyber attacks and identity theft.
Our claim specialists help ease the burden on businesses
HSB’s claim adjusters are information technology specialists who help insureds manage cyber attacks by marshaling resources for IT forensics, legal counsel, notification services, systems restoration, public relations and other resources need to recover.
Learn more about HSB’s bundling of cyber coverages