Travelers Europe Strengthens CyberRisk Product
August 03 2020 - 2:30AM
Business Wire
Travelers Europe today announced it has enhanced its cyber
insurance product, Travelers CyberRisk, to provide more coverages
and risk management solutions to strengthen customers’ overall
cybersecurity programs. The product is available to organisations
of all sizes in the United Kingdom and Ireland.
New coverages include:
- Betterment – to help customers with the cost of
purchasing new hardware, software or subscription-based services
after a breach in order to eliminate system vulnerabilities that
may result in a subsequent cyber event.
- Social engineering fraud – for the loss of money or
securities caused by fraudulent instructions from someone
purporting to be an employee, client or vendor.
- Vendor or client payment fraud – for lost products or
funds owed to a business when its client or vendor is tricked into
sending money or products to a fraudster rather than the rightful
recipient.
- Reputation harm – for lost income resulting from damage
to a business’s reputation when an actual or potential cyber event
becomes public.
Travelers CyberRisk now also provides customers with access to
pre-breach services such as cyber resilience readiness assessments
and cybersecurity awareness training via Symantec™. In addition,
customers and brokers can find up-to-date cyber news, incident
response plans, claim examples, white papers and employee training
guides on the company’s eRiskHub®, available through its
partnership with NetDiligence®.
“Our cyber product has always been more than just an insurance
policy, with features such as access to experts who can help our
customers navigate the stressful experience of a cyber event,” said
Davis Kessler, Head of Cyber for Travelers Europe. “Based on our
constant review of the evolving cyber landscape, as well as
insights from our broker partners and policyholders, we
strengthened our leading cyber product to create the most
comprehensive solution in the marketplace.”
Travelers has operated in Europe for decades through its UK
insurance company, through Lloyd’s and more recently through its
Ireland-based insurance subsidiary. Travelers Insurance Company
Limited offers business insurance, bond and specialty insurance and
risk management services. Travelers Insurance Designated Activity
Company provides insurance products and risk management services in
Ireland and throughout the EU. Travelers Syndicate 5000 at Lloyd’s
underwrites specialist and complex business classes, including
marine, global property, power and utilities, accident and special
risks, aviation and energy.
To learn more, contact your insurance broker or visit
travelers.co.uk/cyber.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider
of property casualty insurance for auto, home and business. A
component of the Dow Jones Industrial Average, Travelers has
approximately 30,000 employees and generated revenues of
approximately $32 billion in 2019. For more information, visit
www.travelers.co.uk.
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version on businesswire.com: https://www.businesswire.com/news/home/20200802005026/en/
Media: Becca Watts, +44 (0)203.207.6342
Rwatts4@travelers.com
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