Travelers Europe Offers Enhanced Combined Cyber Package for Technology Sector in UK and Ireland
January 04 2018 - 4:00AM
Business Wire
Updated offering includes property and
casualty, professional indemnity and cyber cover in addition to
claims handling and risk management expertise
Travelers Europe today announced it has enhanced its offering
for technology businesses in the United Kingdom and Ireland with a
new, packaged product to provide improved protection against the
unique cyber risks facing IT, communications and electronics
manufacturing and assembly companies. The offering includes public
and products liability, property damage and business interruption,
employers’ liability, professional indemnity, cybermedia liability
and network security insurance.
“Cyber breaches can impact a company’s operations, finances and
reputation, so it’s no wonder that more than 65 percent of
technology firms view cyber risks as the chief threat to their
business,” said Mark Crane, Technology Practice Lead, Travelers
Europe. “This package helps technology companies protect their
business and their hard-earned reputations as they manage through a
cyber incident and get back to business as usual.”
The combined package includes elements such as:
- Network Security (cyber cover) – A
first-party cyber insurance product designed to help customers
protect their businesses when a data breach or an extortion demand
is discovered.
- Professional Indemnity and Cybermedia
Liability – Automatic worldwide jurisdiction provides cover for
intellectual property rights, legal fees and expenses, blended
limits or separate limit towers, as well as some third-party fines
and penalties.
- Data Breach Response Service – A 24/7
data-breach hotline is available to customers through a partnership
with a leading law firm specialising in data-breach events.
Customers also have direct access to a wide range of specialist
partners in areas such as IT forensics, public relations and
denial-of-service attack response.
- Cyber Breach Coach – An initial
consultation is provided to customers for each cyber event,
providing expertise and knowledge to help mitigate potential
losses.
Travelers also offers other insurance products for technology
businesses, including management liability, personal accident and
business travel, cargo and kidnap and ransom cover. For more
information on insuring your technology business, please visit
www.travelers.co.uk/technology.
Travelers has operated in Europe for decades in both the general
insurance market and through Lloyd’s. Travelers Insurance Company
Limited offers business insurance, bond and specialty insurance and
risk management services. 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.
About TravelersThe 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 $28 billion in 2016. For more information, visit
www.travelers.co.uk.
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version on businesswire.com: http://www.businesswire.com/news/home/20180104005334/en/
Media:The Travelers Companies, Inc.Matt BordonaroUK: +44
(0)20.3207.6603US: +1.860.277.7014mbordona@travelers.com
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