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Munich Re
HSB WHISTLESTOP Edition 12/2018
Risk Solutions
For Partners
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.
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Hartford Steam Boiler
In this issue
» HSB Cyber Suite adds coverage for payment fraud and business income
» HSB cyber survey shows increase in business email schemes
» When will your boiler fail?
HSB cyber survey shows increase in business email schemes
U.S. businesses report an increase in suspicious emails. And many employees have taken the bait —transferring tens of thousands of dollars in company funds into fraudulent accounts. Over half of business executives responding to HSB’s latest cyber survey (58 percent) said suspicious emails had increased in the past year. Many of the suspicious emails requested fraudulent payments.
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When will your boiler fail?
HSB claim data shows boiler breakdowns increase in the fall and reach a peak of failure around mid-January in the coldest weather of the year. Read the article below for information about preventing costly and disruptive boiler breakdowns this winter.
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Recent Paid Claim - Plumber’s email hacked by cyber thieves
A plumbing contractor billed a client but wasn’t paid. Investigation revealed the customer was the victim of fraud and sent payments to imposters. HSB’s cyber insurance helped pay for the forensic IT review that revealed hackers compromised the email account of the plumbing company’s CFO.
Total Paid Loss $3,773
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Hartford Steam Boiler
One State Street
P.O. Box 5024
Hartford, CT 06102-5024
1-800-HSB-1866 (1-800-472-1866)

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