The Boiler Inspection and Insurance Company of Canada expands data breach insurance and online tools

The Boiler Inspection and Insurance Company of Canada (HSB BI&I), a member of the Hartford Steam Boiler Group and part of Munich Re’s Risk Solutions family, announced on Wednesday data breach coverage enhancements for businesses and complimentary access to a suite of online tools to help prevent the loss or theft of personal information.

The enhanced data breach insurance now covers personal data in the custody, care and control of a third party, known malware-related data breaches, notification to the Privacy Commissioner and public relations services, HSB BI&I said in a press release.

The insurer introduced data breach coverage in 2011 through its reinsurance partners to help organizations respond to the financial burdens of a breach. The coverage can pay for legal and forensic review, notification, fraud alert and case management services for identity theft victims, HSB BI&I explained.

In addition to the enhanced coverage, policyholders of HSB BI&I and its partner insurance will receive access to eRiskHub, a web portal supported by NetDiligence, for data breach risk mitigation. The website provides users with resources and tools to help establish a response plan, manage the costs and minimize the effects of a data breach.

“One of the most negative consequences of a data breach is the loss of customer loyalty,” said Derrick Hughes, vice president for HSB BI&I, in the release. “Consumers hold businesses accountable for the loss of their personal information. They expect to be notified when it happens so steps can be taken to protect themselves from identity theft.”