# HSB > Specialty carrier combining 160 years of engineering expertise with modern IoT technology and AI\-driven risk solutions ## At a glance | Field | Value | | --- | --- | | Type | Carrier | | Region | NA | | Headquarters | Hartford, Connecticut, USA | | Founded | 1866 | | Employees | 1000+ | ## Overview HSB (Hartford Steam Boiler) is a specialty carrier operating under Munich Re's Risk Solutions division, offering equipment breakdown, cyber, AI liability, and specialty property insurance across North American commercial markets. Founded in 1866 to address the hazards of steam boiler explosions in industrial settings, the company has grown into the largest provider of equipment breakdown insurance and related engineering services in North America, covering over five million commercial locations. The company differentiates itself from traditional specialty carriers through its proprietary technology platform. HSB owns Meshify, an end-to-end IoT sensor and analytics platform deployed on AWS for commercial water leak detection and equipment monitoring. It also acquired relayr, an industrial IoT middleware company, in 2018 to serve enterprise and OEM customers. These capabilities allow HSB to bundle loss prevention technology with insurance coverage, delivering measurable risk reduction outcomes alongside traditional indemnity products. HSB operates as a wholly owned subsidiary of Munich Re, which acquired it from AIG for USD 742 million in 2009. The company employs over 2,000 staff and its parent Munich Re Ventures functions as an insurtech investment arm, with portfolio companies including Inspectify. ## Links - Website: - Directory profile: - Careers: - Linkedin: - Press/news: - Iot services: - Meshify platform: --- *Last updated: 2026\-05\-17*