Travelers Launches Enhanced Cyber Insurance Protections

Cyber threats evolve constantly – and cyber insurance protection needs to change to help businesses stay a step ahead of the risks. This is especially true for small- to medium-size enterprises (SMEs), which are often most vulnerable to the damage cyber attacks can cause.

To support these businesses, Travelers has enhanced its five-star cyber insurance product. The new changes simplify the sales process for brokers and offer businesses broader, clearer protection against cyber threats. There are expanded coverages, streamlined policy wordings, and thoughtful additions designed to help businesses recover swiftly from cyber incidents. These enhancements help brokers deliver exceptional value to clients, as well as peace of mind.

“Businesses can’t be complacent about protecting against increasingly sophisticated cyber threats, so we’re always looking for ways to strengthen the protection we offer them,” said Matt Waller, Assistant Vice President, Head of Cyber for Travelers Europe. “We designed these enhancements to give SMEs confidence that following a cyber attack, they will be able to not only recover but also resume trading with minimal disruption.”

Here are the new cyber product enhancements from Travelers:

Any One Claim for Cyber Crime covers

For many businesses, the risk of a fraudulent funds transfer is the most tangible financial cyber risk faced on a day-to-day basis. Criminals don’t stop, and human error is inevitable — unfortunately, both can occur more than once. To help protect businesses against these exposures over the life of the policy, Travelers is now offering our cyber product on an “any one claim” basis for the crime coverages. This means that if you have a loss under one of these crime coverages, the sublimit for that coverage will be fully restored for future incidents, subject to the overall remaining policy limit.    

What’s new in Travelers’ cyber coverage for bodily injury and property damage?

Protection against bodily injury from cyber incidents:

The physical consequences of cyber attacks are becoming increasingly real. Operational technology hacks, compromised safety systems, and the spread of misinformation all have the potential to cause bodily harm. To address these risks, Travelers cyber policies now cover bodily injury claims stemming from cyber incidents. This enhancement helps brokers offer robust support to clients in sectors where operational risks and digital vulnerabilities overlap.

Protection for first-party property damage:

Cyber events don’t just affect data – they can also impact physical assets. Whether businesses own machinery damaged by a security breach or physical infrastructure compromised by a cyber attack, they need swift support to get back on track. To help, Travelers adopted new policy wording that includes first-party property damage. This benefit helps the insured recover quickly from physical losses caused by cyber incidents.

How does Travelers support post-breach cybersecurity upgrades?

After a cyber attack, resilience is key. Businesses need to strengthen their defences to prevent future breaches. That’s why Travelers now offers improved protection for post-breach security improvement costs. It includes a range of reasonable expenses, such as professional consultations, risk assessments, gap analyses, and new or upgraded hardware or software that will help prevent a future breach. Crucially, it extends to staff training initiatives, helping businesses foster a culture of cyber awareness.

What employee wellbeing support is included after a cyber attack?

The human toll of a cyber incident is often underestimated. According to a recent report from the Royal United Services Institute (RUSI), the stress people endure when responding to ransomware attacks can be profound. Recognising this, Travelers now offers a free, confidential post-claim wellbeing service in partnership with HelloSelf. Affected employees can access telephone or video counselling sessions with independent specialists to get emotional support during a difficult time. This service is private – neither Travelers nor the employer will know who uses it – and participation will not impact the claim.

How can goodwill coupons help insureds respond to customers impacted from a privacy breach?

Speed and sensitivity are vital when responding to privacy breaches. To help businesses maintain trust with affected individuals, Travelers adapted its wording to include reimbursement for goodwill coupons where it would avoid a future claim from those individuals. This enables the insured to quickly offer financial gestures of goodwill to impacted parties, providing immediate relief that can help preserve valuable relationships.

What is the 48-hour excess waiver for breach response?

Time is critical following a cyber incident. To encourage prompt action, Travelers has introduced an initial breach response excess waiver. This means no excess applies to forensic and legal expert costs incurred within the first 48 hours after the discovery of a breach. This immediate support empowers businesses to act swiftly, ensuring a rapid response that mitigates the impact of a breach.

What other enhancements strengthen Travelers’ cyber product?

Beyond the above improvements, several additional enhancements provide brokers with more tools to help clients protect against the damage cyber attacks can cause:

• Streamlined fraud prevention: Travelers removed Transfer Verification for Social Engineering Fraud. This reduces administrative overhead while keeping security intact.
• Extended reporting flexibility: Policyholders can get additional time to report claims after policy expiration. Travelers now offers an automatic and optional extended reporting period and discovery provisions with 60 days’ notice after the policy expiry.
• DBI System failure cover: DBI coverage now includes IT system failure, offering broader assurance against unexpected IT outages.
• Reputation harm limit increase: Travelers has raised the limit for reputation harm cover to match the policy limit, reinforcing support for reputational loss to an organisation following a policy event.
• Clarified invoice fraud protection: Travelers now differentiates between “invoice manipulation fraud” and “vendor payment fraud”, which ensures broader protection and improved clarity.
• Interim payments for Business Interruption: Finalising business interruption events can take time due to the need for proper financial accounting to understand the full amount of the loss. Travelers is now offering interim payments for business income loss while that overall calculation continues, ensuring you have critical funds for your ongoing financial needs. 

 “These enhancements give businesses the confidence and comprehensive protection they need in today’s complex threat landscape,” said Waller. “Whether they need support in executing a rapid breach response, managing employee wellbeing, or making proactive system improvements, we’re helping them weather challenges – and emerge stronger.”

To learn more, contact the Travelers Cyber team. 

This information is provided for general informational purposes only. It does not, and it is not intended to, provide legal, technical or other professional advice, nor does it amend, or otherwise affect, the provisions or coverages of any insurance policy issued by Travelers. Travelers does not warrant that adherence to, or compliance with, any recommendations, best practices, checklists, or guidelines will result in a particular outcome. Furthermore, laws, regulations, standards, guidance and codes may change from time to time and you should always refer to the most current requirements and take specific advice when dealing with specific situations. In no event will Travelers be liable in tort, contract or otherwise to anyone who has access to or uses this information.

Travelers operates through several underwriting entities in the UK and Europe. Please consult your policy documentation or visit the websites below for full information.