Small businesses may not think they are at risk for cybercrime, but
almost 72 percent of the 855 data breaches worldwide analyzed by
Verizon's forensic analysis unit were at companies with 100 employees or
less.1 However, a questionnaire by Travelers
found that only 29 percent of small business owners surveyed were very
confident that they had adequate coverage to protect their business
against cyber liability.2 To help small
businesses protect against this rapidly growing risk and to meet the
need for expanded coverage, Travelers is introducing CyberFirst
Essentials® - Small Business.
"This new coverage targeted exclusively to small businesses extends
insurance expertise to a critical driver of the economy. Small
businesses may have exposures to sensitive information that can be
compromised," said Marc Schmittlein, Executive Vice President, Small
Commercial. "Cyber threats are on the rise and our customers rely on
Travelers for products that provide them with the depth of protection
CyberFirst Essentials - Small Business offers insurance coverage to
protect against some of the most common information security breaches
Travelers has provided cyber-related
coverages for more than 15 years and understands the importance of
assisting companies and organizations to work through an incident, from
coping with the breach to expenses associated with potential lawsuits.
In addition to this new coverage for small businesses, Travelers offers
cyber coverage tailored to meet the needs of its medium- and large-sized
business customers including CyberFirst® for technology and public
entity customers and CyberRisk, offered as a stand alone or through
management liability coverage packages for public and private companies,
nonprofit organizations and financial institutions.
About TravelersThe Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto,
The company's diverse business lines offer its global customers a wide
range of coverage sold primarily through independent agents and brokers.
A component of the Dow Jones Industrial Average, Travelers has more than
30,000 employees and operations in the United States and selected
international markets. The company generated revenues of approximately
$25 billion in 2011. For more information, visit www.travelers.com.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130121005457/en/
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