CyberRisk Insurance
In today’s data-driven world, keeping information data and finances safe and secure online is essential for almost any organisation.
The good news is that Travelers, one of the world’s top five1 largest global insurers for cyber insurance, can help. We have created Travelers CyberRisk, a range of specialist covers, services and other benefits, it’s designed to protect businesses or other organisations from current and emerging cyber threats. CyberRisk is a standalone product but can be bought additionally when purchasing a product from our Management Liability Package.
CyberRisk protects against a wide range of first and third party losses. This includes cover for regulatory proceedings, data breach liability, fines and penalties (if insurable by law), and losses from business interruption, plus cyber extortion and other financial cybercrimes. CyberRisk also gives you access to specialist professional advice and teams, including Breach Coaches from our expert partners, Pinsent Masons.
1Source: PropertyCasualty360.com – November 2017
Why Is It Needed?
In 2016, the National Crime Unit found that cybercrime had overtaken all other forms of crime for the first time ever, with over two million incidents recorded in that year. Cyber attacks are also becoming more sophisticated.
In today’s data-driven world, keeping information, data and finance safe and secure online is essential. Despite advances in technology, human and system error are ever-present threats, while everything from a lost laptop to a disgruntled employee can now pose a major risk.
Why Travelers?
As one of the world’s leading cyber insurers, Travelers offers expert claims assistance and comprehensive cyber cover for Breach Response, Cybercrime, Business Loss and Cyber Liability. Our CyberRisk insurance thereby protects against a wide range of first and third party losses. These include cover for regulatory proceedings, data breach liability, fines and penalties (if insurable by law), and losses from business interruption, plus cyber extortion and other financial cybercrimes.
CyberRisk also offers access to specialist professional advice and teams, including Breach Coaches from our expert partners Pinsent Masons. Insureds also benefit from a broad definition of privacy and security for both crisis management and security breach expense coverage.
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