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Cyber Insurance for SMEs

Keeping SMEs safe from emerging cyber threats

It’s not only larger companies that are susceptible to data breaches and cyber attacks (such as ransomware). Almost half of Irish businesses (46%) experienced a cyber incident during the three-year period of 2021 to 2024. Of those that underwent a breach or attack, 20% suffered a financial loss related to the incident and 14% were required to report the incident to the Data Protection Commissioner or NCSC. 1

This level of impact is why Travelers offers a comprehensive cyber policy that can offer more than protection from financial loss. SME businesses with a CyberRisk Insurance policy from Travelers will have access to a service contact, a dedicated claims handler and breach coaches to support them through a cyber incident and get them back on track.

1 https://pulse.microsoft.com/wp-content/uploads/2023/12/Cybersecurity-Trends-Ireland-2023.pdf

Our appetite

     

We cover

These fall within our appetite, and we’re happy to discuss details.

  • Accounting
  • Agriculture
  • Car dealership
  • Construction
  • Financial institutions
  • Hotels/restaurants
  • Insurance brokers
  • Law firms
  • Logistics (advisory/freight fwd)
  • Manufacturing
  • Marketing/media
  • Mining
  • Non-profit/charities
  • Nursing/retirement
  • Professional services
  • Property manager/real estate
  • Recruiting
  • Retail
  • Schools and universities
  • Small healthcare
  • Small government
  • Travel/tour operator
  • Veterinarian
  • Waste management
  • Wholesaler

 

We do not cover

Sorry, we’re currently unable to insure the following.

  • Adult entertainment
  • Airline
  • Critical infrastructure
  • Cryptocurrency
  • Debt collection
  • Emergency services
  • Electricity/gas utility
  • Healthcare (NHS affiliated)
  • MSPs/cyber security
  • Payment processors
  • Political entities
  • Primary UK technology
  • Real time trading
  • Social media
  • Ticketing agency/software
  • Tobacco/cannabis
  • Water utility

Travelers advantage

In a world of growing digital crime, cyber operations don’t always go to plan. Travelers offers expertise that SME businesses can count on to both prevent and address the evolving digital risks they face, thanks to a detailed and bespoke underwriting process.

SME cyber

We’re big on SME

We’ve brought our specialist mid-market expertise to the SME space. Delivering the same comprehensive cover and outstanding service you’ve come to expect from us, it’s designed to suit the needs of smaller businesses.

With both the capacity and the product suite to partner with SMEs for the long-term, we can offer support from humble beginnings to bigger things.

And because we’re all about insuring ambition, you’ll always be confident that the growth mindset of you and your clients will be fully matched by our own.

Explore our full range of SME business products

SME cyber covers & highlights

  • Forensic investigations

  • Litigation expenses associated with the breach

  • Regulatory defence expenses/fines

  • Crisis management expenses

  • Business interruption

  • Cyber extortion

  • Post-breach coverage

    • Betterment
      • Computer system improvement costs

Related products

Cyber

Every company faces cyber threats and risks. Cyber cover helps businesses deal with the increasing complexity of digital crime.

Mid-market & corporate cyber

The world of cyber risk is constantly changing. We help companies maintain their edge through cover enhancements that help them prepare for and overcome ever-evolving cyber challenges.

Cyber insurance at Lloyd’s

Through our cyber at Lloyd’s offering we are able to support our global clients located in jurisdictions all over the globe.

Technology

As the technology sector changes, insurance protection needs to evolve with it. Travelers can help anticipate potential risks so clients have more freedom to innovate.

SME management liability package

Our online management liability package platform makes it easy to quote and bind coverage instantly, enabling our broker partners to quickly get broad, flexible coverage tailored to specific needs.

Professional indemnity combined

Travelers’ professional indemnity (PI) combined product offers a comprehensive and convenient insurance solution, covering PI, property, liability and cyber fundamentals, with an option to include legal expenses.

Let’s start the right conversation

 
For business

Find a broker

If you’re looking for covers and have a broker, ask about Travelers products.

If you need a broker, start with the right broker directory.

Find a broker

Need to call us directly? Contact us.

 
For brokers

Ready to chat?

Let’s work together to build the right cover for your client.

Contact us

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Have a new business idea? Contact our Schemes team.

Risk landscape

Breaches in sensitive information

In the case of a hacker obtaining sensitive personal information from an SME-sized business’s computer system, the result could be devastating. Multiple customers could bring a claim against them for allowing access to their personal information.

However, if they had a Travelers SME policy, the damages and defence costs could be covered for the relevant lawsuits.

Plagiarism lawsuit

If a third party were to bring a lawsuit against a business with a Travelers SME cyber policy, the damages and defence costs would be covered for the relevant lawsuits.

An example case would be a third party alleging a business had plagiarised its online content and organisational branding, as well as infringed upon its trademarks.

Data ransom

A business system is infected with a virus that encrypts data, resulting in a ransom payment being demanded to unlock the system. If the affected business has cyber insurance from Travelers, covered costs can include managing and mitigating the incident and, if necessary, payment of the ransom demand.

Data fraud

A fraudster obtains information from the insured business and uses that information to impersonate said business to its bank. If the fraudster requests a €100,000 transfer from the business’s bank account, they can receive a reimbursement of those funds.

Inoperable computer system

An organisation’s computer system is rendered inoperable through employee negligence, resulting in operations being shut down for an extended period. With a Travelers cyber policy, the business affected could be indemnified for the lost income as a result of the disruption and expenses incurred to restore operations.

Cyber support benefits

Cyber safety tool

Our new cyber safety tool, developed by The Association of British Insurers, allows companies to self-assess risks and plug the gaps in their cyber set-up with a free, tailored plan.

Discover the cyber safety tool.

Insights & industry knowledge

Articles to help your ambition succeed

Cyber Security Resources

Interview: Travelers Comprehensive Cyber Solutions | Chris McMurray and James Doswell

What are the top cyber threats facing UK businesses right now? This video explores Travelers’ cyber proposition in the UK.

11 minutes

Cyber Security Resources

Why Buy Standalone Cyber Insurance?

Cyber breaches continue to be a pervasive and evolving problem for businesses of all sizes.

3 minutes

Small and Medium-Sized Enterprises (SME) Resources

Office Risks Generate Frequent Claims for Smaller Businesses – but They Don’t Have To

If protecting against office risks falls down the priority list for smaller businesses, meaningful disruptions and damage can result.

2 minutes

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