diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6a620f4ca..24fa75347 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -49,6 +49,8 @@
     - **Chore:** Bump minimum Python version to 3.10
     - **Chore:** Update dependencies
 - `kms`
+  - [v0.12.0](services/kms/CHANGELOG.md#0120)
+    - **Feature:** Add `HSM` as allowed value to `Protection` class.
   - [v0.11.0](services/kms/CHANGELOG.md#0110)
     - **Chore:** Bump minimum Python version to 3.10
     - **Chore:** Update dependencies
diff --git a/services/kms/CHANGELOG.md b/services/kms/CHANGELOG.md
index 37692e538..dd0fd5b92 100644
--- a/services/kms/CHANGELOG.md
+++ b/services/kms/CHANGELOG.md
@@ -1,3 +1,6 @@
+## v0.12.0
+- **Feature:** Add `HSM` as allowed value to `Protection` class.
+
 ## v0.11.0
 - **Chore:** Bump minimum Python version to 3.10
 - **Chore:** Update dependencies
diff --git a/services/kms/oas_commit b/services/kms/oas_commit
index a978700c7..1538b64bb 100644
--- a/services/kms/oas_commit
+++ b/services/kms/oas_commit
@@ -1 +1 @@
-467fe4d305e48699c34835e45fd1c7b486be01d2
+d5bd75f47f4b364fa6f71663efb4ba41ec703ac8
diff --git a/services/kms/pyproject.toml b/services/kms/pyproject.toml
index 1425693d9..5cef5c892 100644
--- a/services/kms/pyproject.toml
+++ b/services/kms/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "stackit-kms"
-version = "v0.11.0"
+version = "v0.12.0"
 description = "STACKIT Key Management Service API"
 authors = [{ name = "STACKIT Developer Tools", email = "developer-tools@stackit.cloud" }]
 requires-python = ">=3.10,<4.0"
diff --git a/services/kms/src/stackit/kms/models/protection.py b/services/kms/src/stackit/kms/models/protection.py
index b1dad0eb4..8c2299335 100644
--- a/services/kms/src/stackit/kms/models/protection.py
+++ b/services/kms/src/stackit/kms/models/protection.py
@@ -21,13 +21,14 @@
 
 class Protection(str, Enum):
     """
-    The underlying system that is responsible for protecting the key material.
+    The underlying system that is responsible for protecting the key material. (\"hsm\" is a private preview feature).
     """
 
     """
     allowed enum values
     """
     SOFTWARE = "software"
+    HSM = "hsm"
 
     @classmethod
     def from_json(cls, json_str: str) -> Self: