HSB Introduces Cyber Policy for Personal Cars and Trucks to Combat Growing Threats

Specialty insurer HSB has launched a new cyber policy specifically designed to protect personal cars and trucks from cyberattacks. The Cyber for Auto policy comes in response to the increasing number of connected vehicles on US highways being targeted by hackers and cybercriminals.

With the rise of connected technology in vehicles, including sensors and computer systems, the potential for cyber threats has also increased. Syncing smartphones to vehicles, while convenient, can expose sensitive personal data to unauthorized access and misuse.

While hacking incidents targeting vehicles are currently rare, the expectation of vehicles becoming prime targets for ransomware, identity theft, and other cyber issues is growing. HSB’s research shows that a significant number of consumers have connected their phones to their vehicles and store personal data within their vehicle’s computer systems, leading to concerns about data security.

James Hajjar, chief product and risk officer for HSB, expressed concern over the integration of new technologies into modern vehicles, creating new vulnerabilities for cybercriminals to exploit. The Cyber for Auto policy aims to combat cyber threats such as malware, viruses, and ransomware attacks, as well as provide solutions for identity recovery in the event of a breach.

The policy also covers costs associated with towing, labor, and alternative transportation while the vehicle’s systems are being repaired. HSB plans to make Cyber for Auto available as an add-on to the policies of partnering insurance companies.

As the number of connected vehicles continues to grow, the need for protection against cyber threats becomes increasingly important. The launch of HSB’s Cyber for Auto policy aims to provide peace of mind for vehicle owners worried about the security of their personal data in an increasingly connected world.