Hartford Steam Boiler (HSB), a specialty insurer and subsidiary of Munich Re, has acquired the cyber risk management platform provider Zeguro. Financial terms of the deal were not disclosed.
This is technology M&A deal number 673 that MSSP Alert and sister site ChannelE2E have covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
HSB will use the Cyber Safety Solution to strengthen its cybersecurity services. It also will explore opportunities to enhance the Cyber Safety Solution and create unique insurance offerings for small and medium-sized businesses (SMBs).
Zeguro offers a Cyber Safety Solution that provides SMBs with online access to cybersecurity training, compliance policies and web application monitoring, the seller said. In doing so, Zeguro helps organizations identify cyber vulnerabilities and comply with various data security frameworks.
In addition, Zeguro provides a partner program for technology, referral and channel partners. The referral program includes an MSP focus to ensure MSP customers "are covered in the event of a data breach and can continue to thrive with minimal impact," the company indicated.
Meanwhile, HSB will continue to provide cyber insurance and services via agents, brokers and insurance companies, the insurer indicated. HSB also will help organizations add cyber coverages to their existing insurance policies.
Zeguro Expands Cyber Insurance Coverage
Ahead of the M&A deal, Zeguro in July 2021 added several types of coverage to its Cyber Safety Solution's cyber insurance offerings, including:
- Computer fraud
- Future loss avoidance
- System failure
Along with those coverages, Zeguro offers cyber insurance for payment fraud, ransomware attacks, regulatory fines, media liability and network security liability.
