Insurer HSB Taps Zeguro for New Cybersecurity Platform

The specialty insurer HSB has acquired a digital cybersecurity platform from security provider Zeguro.

As Reinsurance News reported Friday (Oct. 22), Zeguro’s cyber safety solution is designed to strengthen HSB’s overall cybersecurity capabilities. Customers will get integrated online access to cybersecurity training, compliance policies and web application monitoring tailored for small- to medium-sized businesses (SMBs).

“A business needs both cyber insurance and security,” said Timothy Zeilman, vice president for HSB, which is owned by Munich Re. “The combination of HSB’s cyber coverage and Zeguro’s proven risk management platform offers a seamless experience for our customers to get the protection they need.”

HSB has more than 15 years of cyber insurance experience and says it hopes the addition of Zeguro’s expertise in the cybersecurity sector will help it keep up to date with ever-evolving cyber exposures.

“We’re excited to join HSB and Munich Re,” said Sidd Gavirneni, Zeguro founder and chief executive officer. “It’s a great opportunity to enhance the Zeguro Cyber Safety Solution while creating unique insurance protection for small businesses.”

Read more: A Proactive Strategy To The Existential Crisis Of An SMB Cyberattack

PYMNTS looked at the cyber threats facing SMBs earlier this year in an interview with Chris Finan, chief operating officer (COO) of cybersecurity firm ActZero.

“Attackers have such an overwhelming advantage right now,” said Finan. “It’s almost unfair to expect a small business to defend itself.”

While today’s mindset seems to suggest that all businesses must accept cyberattacks as a fact of life in the digital world, small businesses often lack the funds, resources, time and expertise to protect themselves against these threats.

Finan says his company took steps to prevent cyber risks for SMBs earlier this year through a partnership with Zeguro. Cybersecurity and cyber insurance go hand-in-hand, he said, with cybersecurity technology collecting useful data that helps the insurer understand risks.