HSB has announced a new cyber insurance solution aimed at protecting internet-connected commercial vehicles from the rising threat of cyberattacks. As more commercial cars, trucks, and fleet vehicles become digitally connected through apps and onboard systems, businesses are facing increasing risks from hackers who could disrupt operations and compromise safety.
This newly introduced coverage, called HSB Commercial Cyber for Auto, not only helps protect businesses from vehicle-related cyber incidents but also provides financial support for lost business income when operations are interrupted due to an attack. In today’s fast-evolving digital environment, this type of specialized insurance comes at a crucial time.
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“Cyberattacks on commercial vehicles are a real and growing threat,” said Eric Hendricksen, commercial cyber practice lead for HSB, part of Munich Re Group. “With millions of connected commercial cars and trucks on the road, cybercriminals could hack into apps and automobile connections. Business owners need to get ahead of this emerging risk to data security, operations, and vehicle safety.”
Comprehensive Cyber Protection for Commercial Fleets
The new policy is specifically designed to support small and medium-sized businesses that rely heavily on work vehicles for daily operations. Since disruptions to commercial fleets can quickly lead to financial losses, HSB’s coverage helps companies recover faster and continue business activities with minimal downtime.
Importantly, the insurance includes protection against cyberattacks that may damage a vehicle’s systems, devices, or stored data through malware or other malicious activity. Additionally, it provides coverage for cyber extortion situations where criminals demand ransom payments in money or cryptocurrency in exchange for restoring access to vehicles or their connected systems.
Moreover, the policy covers business income loss and extra operational expenses when services are interrupted due to a cyber incident or extortion attempt. This ensures businesses are not left vulnerable during costly downtime.
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Added Support Services and Transportation Coverage
Beyond direct cyber protection, HSB Commercial Cyber for Auto also offers support for transportation-related costs. For instance, if targeted vehicles cannot be operated, the policy can pay for towing, labor, and alternative transportation, helping businesses maintain continuity.
In addition, cybersecurity services and online resources are included to assist in stopping attacks and strengthening defenses. Should a cyberattack occur, the coverage also provides funds to improve or upgrade vehicle-related hardware and software, reducing the likelihood of future incidents.
Closing a Critical Insurance Gap
HSB’s new offering fills an important coverage gap for smaller businesses, many of which may not realize that traditional commercial auto policies or vehicle warranties often do not include cyber protection. By partnering with insurers, HSB aims to help business owners safeguard their fleets, protect operations, and stay ahead of increasingly sophisticated cybercriminals.
With connected vehicle threats on the rise, this new insurance solution represents a proactive step toward securing the future of commercial transportation.
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