The newly introduced Cyber for Auto coverage encompasses core protections against a range of cyber threats, including malware, viruses, ransomware demands, and potential threats to expose confidential data.
The comprehensive coverage is designed to offer peace of mind to vehicle owners concerning the security of their personal information in an increasingly connected automotive landscape.
It’s important to note that while this new coverage offers promising protection, it has not yet received approval from state insurance departments, signaling the need for further regulatory review before it becomes widely available to consumers.
Commenting on the move,James Hajjar, chief product and risk officer for the Treaty Division of HSB, part of Munich Re, said: “Automakers continue to integrate new technologies into today’s vehicles. With each added system or connection, there are new vulnerabilities that hackers and other cyber criminals can exploit.”
He added: “Cyber for Auto helps insurers and their customers stay ahead of these new cyber exposures.”
