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The Hartford Expands Cyber Insurance to Safeguard Small Businesses
ZACKSยท 2025-09-23 16:42
Core Insights - The Hartford Insurance Group, Inc. (HIG) has enhanced its cyber insurance product, CyberChoice First Response, making it more accessible for small businesses through its ICON platform [1][9] - The initiative aims to address rising cyber risks as businesses increasingly rely on digital operations, providing coverage for ransomware, breaches, regulatory defense, and 24/7 incident support [2][9] - HIG's strategy reflects a broader industry trend towards simplifying risk coverage and strengthening relationships with agents and policyholders, paving the way for long-term growth [4] Financial Performance - In Q2 2025, HIG's total revenues increased by 7.7% year-over-year, with the business insurance segment growing by 10.9% [5][9] - The loss and loss adjustment expense ratio for the business insurance segment improved by 230 basis points year-over-year, reaching 56.1% [5] Stock Performance - Over the past year, HIG's shares have appreciated by 13%, outperforming the industry growth of 6.6% [6]