HSB CyberPro combines specialized cyber claims service, active threat monitoring, and risk mitigation tools developed by HSB over nearly two decades in the cyber insurance sector. Available across Canada through brokers, this new coverage targets businesses with annual revenues of up to $2 billion. Stephanie Banning, head of cyber practice for HSB, stated that the launch of HSB CyberPro with strategic distribution partners will meet customer needs with broad, customizable coverage. She emphasized that the offering gives businesses the confidence to respond effectively to unexpected cyber attacks.
Designed to serve a wide range of industries, including retail, hospitality, transportation, wholesale trade, construction, and non-profit organizations, HSB CyberPro provides agile and adaptable protection that evolves alongside the rapidly changing landscape of regulatory, legal, and technological cyber risks. The product includes both first- and third-party coverage, protecting against cybercrime, business interruption, system failures, data restoration, event response costs, legal counsel, computer forensics, data recovery, and crisis management.
In addition, HSB CyberPro integrates a Cyber Safety risk management platform that offers proactive tools and services such as active monitoring for system and website vulnerabilities, access to cybersecurity and legal experts, ransomware prevention resources, security policy templates, and online training and assessment tools.
HSB has been a trusted partner in the cyber insurance market for nearly 20 years, supporting the development of successful cyber products and writing cyber coverage in the primary market since 2016.
HSB Canada, part of Munich Re, is a multi-line specialty insurer offering equipment breakdown, cyber risk, and other coverages. The company combines engineering expertise, technology, and data to craft innovative insurance and service solutions that address the emerging risks posed by technological change. Throughout its 150-year history, HSB’s mission has focused on helping clients prevent loss, promote sustainable energy use, and build strong relationships that benefit businesses, institutions, and consumers. HSB holds A.M. Best Company’s highest financial strength rating of A++ (Superior).
Munich Re, one of the world’s leading providers of reinsurance, primary insurance, and insurance-related risk solutions, operates globally across all lines of business. Since its founding in 1880, Munich Re has been recognized for its unmatched risk expertise and strong financial stability. The company continues to advance innovation through insurance solutions for emerging risks such as rocket launches, renewable energy, cyber threats, and artificial intelligence. In the 2024 financial year, Munich Re reported insurance revenue of €60.8 billion and a net result of €5.7 billion, employing approximately 44,000 people worldwide as of December 31, 2024.
