SAINT PAUL, Minn.--(BUSINESS WIRE)--
As the number of incidents involving unauthorized access to confidential
information grows, organizations today are placing a greater emphasis on
data protection and insuring against the potential litigation that can
arise if information security is compromised. To help protect companies
and organizations from liability claims associated with increased
network and information security threats, Travelers (NYSE: TRV)
Bond
& Financial Products is now offering Network and Information
Security Offense coverage endorsements on its Wrap+(R)
policies. These endorsements are available for eligible policyholders in
targeted private and non-profit industry groups.
"Companies today are paying greater attention to not only protecting the
information they gather and store, but also the liabilities created
should that information be compromised. The new Travelers Wrap+
endorsements allow coverage to be added directly to existing management
and professional liability coverages," said Tim Francis, Network &
Information Liability Product Manager for Bond & Financial Products.
Travelers' new Network
and Information Security Offense coverages apply to claims for
failing to prevent access to confidential information regardless of
whether the information is accessed due to systems hacking, lost mobile
email devices and laptops, or "dumpster diving" and "phishing" schemes.
The endorsements are available for policyholders of Travelers Wrap+
Directors and Officers (D&O), Miscellaneous Professional Liability
(MPL), and Employment Practices Liability (EPL) coverages in eligible
industry classes.
The D&O and MPL endorsements add coverage for claims alleging a failure
to prevent unauthorized access to private and confidential information.
Coverage also extends to claims arising out of the transmission of
computer viruses, and failing to provide notification of information
security breaches. In addition, Travelers' EPL endorsements are tailored
to address information security issues unique to the employer/employee
relationship and claims that may result from unauthorized access to
private employment information.
As an added value for D&O and MPL policyholders eligible for the new
endorsements, Travelers is also offering a Crisis Event Management
Expenses coverage which provides customers expense reimbursement for
consulting services provided by a public relations firm in response to a
crisis event. With this endorsement, these policyholders will receive an
additional coverage limit of $25,000 for crisis management event
expenses.
Travelers Wrap+ is available for privately owned and non-profit
organizations and provides several management liability coverage
options. Customers can select one or more of the available coverages on
a single comprehensive policy platform. Available coverages include D&O,
EPL, Fiduciary Liability, MPL, Crime, Kidnap and Ransom, and Identity
Fraud Expense Reimbursement coverage.
The new Network and Information Security Offense endorsements with added
Crisis Management Event Expenses coverage are now available in 48 states
and will be available countrywide pending state approvals.
About Travelers
The Travelers Companies, Inc. is a leading property casualty insurer
selling primarily through independent agents and brokers. Travelers
understands that life and business are inherently dynamic and that the
best way to serve customers is to deliver insurance in-synch with
evolving risks. The company's diverse business lines offer its global
customers a wide range of coverage in the auto,
home
and business
settings. A Fortune 100 company, Travelers has 33,000 employees and 2008
revenues of approximately $24 billion. Travelers stock is traded on the
New York Stock Exchange (NYSE: TRV)
and is a component of the Dow Jones Industrial Average. For more
information on being in-synch, visit www.travelers.com.
Source: Travelers
Contact: Travelers
Media:
Jennifer Bagdade, 651-310-2883