HSB Launches Cyber Insurance Solution for Small Businesses

Industry Insights from Next Move Strategy Consulting

As cyber threats continue to intensify across industries, HSB—a specialist in engineering and technology insurance—has unveiled HSB CyberPro, a cyber insurance and incident response solution tailored for micro and small businesses in the UK and Ireland with annual revenues of up to £10 million. The initiative marks a significant step toward bridging the preparedness gap among smaller enterprises increasingly exposed to cyber risk.

Addressing the Growing Cyber Preparedness Gap

Despite a notable rise in cybersecurity awareness, HSB’s recent survey highlights critical vulnerabilities. Out of 600 businesses surveyed, 55% anticipate a cyber attack within the next year, and 84% foresee negative repercussions such as operational disruptions and lost revenue. Alarmingly, only 31% of micro-businesses have a documented incident response plan, while less than half (46%) have provided staff cybersecurity training in the past year.

This readiness gap underscores a growing challenge—small businesses often recognize the threat but lack the financial and technical capacity to build comprehensive cyber defenses.

A Comprehensive Solution for the Underserved

HSB CyberPro is purpose-built to safeguard against cyber risks, data breaches, and IT system vulnerabilities. Beyond financial coverage, it integrates round-the-clock incident response support—available 24/7, 363 days a year—through a dedicated helpline. When a suspected incident arises, cybersecurity specialists provide rapid containment, resolution, and recovery assistance.

The service also acknowledges a key behavioral insight from HSB’s research: 62% of small enterprises would seek help from external experts first during a cyber incident. HSB CyberPro’s approach ensures that expert support is not only available but directly embedded within the insurance framework.

Expert Perspective and Market Context

“Cyber attacks are a constant threat for businesses of every size, but smaller organisations are particularly vulnerable to evolving threats and would most benefit from specialist technical support,” said Mat Prentice, Cyber Product Leader at HSB UK & Ireland.

“HSB CyberPro directly addresses this need by combining financial protection with direct access to cybersecurity experts, helping small businesses to respond effectively and recover with confidence in the event of a cyber incident.”

The policy is accessible to brokers for e-trading through Acturis Open Market and HSB Fast Track platforms, supported by HSB’s team of technical underwriters—ensuring streamlined accessibility for the small business segment.

Next Move Strategy Consulting’s View

According to Next Move Strategy Consulting, HSB’s CyberPro launch aligns with a broader industry shift toward integrated cyber insurance ecosystems—solutions that merge financial resilience with active technical intervention. As ransomware, phishing, and supply chain breaches grow more complex, insurers are moving beyond reactive compensation models toward proactive cyber risk management.

This evolution is particularly impactful for micro and small enterprises, which have historically been underserved in cybersecurity. The combination of policy-backed protection and expert-led response services positions products like CyberPro as catalysts for greater market maturity and business continuity assurance.

From a strategic standpoint, the launch underscores a rising trend in the Cyber Insurance Market: the convergence of insurance underwriting with incident response, creating hybrid frameworks that enhance both preparedness and recovery. As threat landscapes evolve, such integrated offerings are expected to play a crucial role in reducing downtime, mitigating losses, and strengthening cyber resilience across the SME ecosystem.

Building Confidence in a Digital Economy

HSB’s CyberPro represents more than a new insurance product—it is a commitment to empowering small businesses to navigate the digital era with confidence. By blending financial indemnity with real-time technical expertise, HSB delivers a solution that not only reacts to cyber incidents but actively fortifies business resilience against them.

As digital operations deepen across all sectors, cyber insurance solutions like CyberPro are poised to become foundational tools for sustainable business protection and growth in an increasingly connected world.

Source: Reinsurance News

Prepared by: Next Move Strategy Consulting