What is Cyber Liability Insurance? | Travelers Insurance (2024)

What businesses need cyber liability insurance?

Every type of organization, from global companies to mom and pop shops that use technology to do business, faces cyber risk. As technology becomes more complex and sophisticated, so do the threats that businesses face. This is why every business and organization needs to be prepared with both cyber liability insurance and an effective cybersecurity plan to manage and mitigate cyber risk. At Travelers, we understand the complexity of cyber threats. We have solutions to help insure and protect your business assets. 

Travelers cyber coverage can be a crucial safeguard against the devastating financial consequences of a cyberattack. When you have a CyberRisk policy with Travelers, you also receive access to a variety of risk management resources that can help protect your organization against the threat of a cyberattack.

What does cyber liability insurance cover?

Cyber liability insurance helps cover costs associated with data breaches and cyberattacks on your business. Those costs can include such things as lost income due to a cyber event, costs associated with notifying customers affected by a breach, costs for recovering compromised data, costs for repairing damaged computer systems and more. Travelers offers customized insurance solutions depending on your business’s level of risk, with coverage options available to address:

CyberRisk policyholder benefits

In addition to coverage, Travelers provides CyberRisk policyholders innovative value-added pre- and post-breach risk management services at no additional cost. These benefits include cyber coaches, pre-breach services and access to Travelers eRiskHub^®, powered by NetDiligence^®. 

Travelers Cyber Security Coaches

Expand your cybersecurity team, as the potential for a cyber event is real regardless of the size of your organization. Even the most sophisticated systems have vulnerabilities, and the human element of lost laptops, misplacing a paper file or opening an email attachment can affect your company. Cyber events can have a significant impact on your customers, your employees and your bottom line. 

Travelers’ cyber policyholders receive exclusive access to cybersecurity experts who can provide actionable advice and answers regarding a variety of cyber concerns and exposures.

Travelers eRiskHub, powered by NetDiligence

Travelers eRiskHub is a private web-based portal containing information and technical resources that can assist you in the prevention of network, cyber and privacy events. It can support you in a timely response if an incident occurs. Travelers eRiskHub features news, content and services from leading practitioners in risk management, computer forensics, forensic accounting, crisis communications, legal counsel and other highly specialized segments of cyber risk.

Travelers offers flexible insurance options to meet your needs

Does your company collect credit card information for online sales or maintain a database of personal information for lead generation? With new threats to computer systems and data emerging every day, it pays to be prepared. Even if your business or organization has taken steps to maintain the security of your data, you may not be keeping up with increasingly sophisticated threats.

The right coverage your business or organization needs depends on your level of risk. Find the cyber liability coverage that’s right for your organization.