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As Cyber Risks Rise, Travelers Adds CyberFirst Essentials – Small Business to Its Lineup of Cyber Protection

  As Cyber Risks Rise, Travelers Adds CyberFirst Essentials – Small Business
  to Its Lineup of Cyber Protection

New coverage offers small businesses insurance for common information breaches

Business Wire

HARTFORD, Conn. -- January 21, 2013

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 Travelers’
cyber 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 they need.”

CyberFirst Essentials – Small Business offers insurance coverage to protect
against some of the most common information security breaches including:

  *Online hacking and data theft of confidential information such as credit
    card number, Social Security number, medical data, etc.
  *Accidental loss or sharing of personally-identifiable information
    regardless of whether that information was from electronic data or from
    physical paper records.

CyberFirst Essentials ^ - Small Business is part of a Travelers MasterPac
business owners policy and can include coverage for the costs associated with
breach disclosure, credit monitoring services, resulting litigation and more,
starting at $120 with flexible limits ranging from $25,000 to $250,000. This
coverage is available through Travelers’ network of independent insurance
agents.

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 Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property
casualty insurance for auto, home and business. 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.

1.Verizon 2012 Data Breach Investigation Report
2.The questionnaire was conducted on-site at the U.S. Chamber of Commerce’s
    annual America’s Small Business Summit held in Washington, D.C., from May
    21-23, 2012, and is intended to represent the sentiments of approximately
    300 small business owner attendees who participated in an in-person
    interview over three days

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Contact:

Travelers
Media Contact:
Matt Bordonaro, 860-277-7014
 
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