Updated offering includes property and casualty, professional
indemnity and cyber cover in addition to claims handling and risk
management expertise
LONDON--(BUSINESS WIRE)--
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 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
$28 billion in 2016. For more information, visit www.travelers.co.uk.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180104005334/en/
Media:
The Travelers Companies, Inc.
Matt Bordonaro
UK:
+44 (0)20.3207.6603
US: +1.860.277.7014
mbordona@travelers.com
Source: The Travelers Companies, Inc.