Cyber liability insurance is an insurance policy that provides businesses with a combination of coverage options to help protect the company from data breaches and other cybersecurity issues. It's not a question of if your organization will suffer a breach but when. Travelers cyber insurance policyholders can also access tools and resources to manage and mitigate cyber risk pre-breach and post-breach.
Data Breach Protection:
Covers the costs associated with responding to and recovering from a data breach, such as notification of affected individuals, credit monitoring, legal expenses, and regulatory fines.
Business Interruption Coverage:
Protects against lost income and extra expenses incurred if a cyber incident disrupts normal business operations.
Cyber Extortion Coverage:
Provides funds to pay ransomware demands or other extortion attempts, as well as the costs to investigate and resolve the incident.
Reputational Harm Coverage:
Helps mitigate the financial impact of reputational damage suffered by the business due to a cyber event.
Pre-Breach and Post-Breach Services:
Many cyber insurers, like Travelers, offer policyholders access to risk management tools, incident response planning, and post-breach support services.
