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Be cyber confident: CyberRisk Insurance

With access to helpful tools, the advice of expert underwriters and a streamlined quoting journey, Travelers offers class-leading support to sell cyber insurance more effectively to your SME clients. Partnering with us gives you the confidence to support their business and advance your reputation before, during and after a cyber event.

The world of cyber risk is constantly evolving. So we have made a number of enhancements to our product to further help businesses of all shapes and sizes prepare for and overcome the ever-increasing cyber challenges.

CyberRisk

Coverage

Betterment	Costs to improve a computer system after a security breach, when the recommended improvements eliminate vulnerabilities that could lead to a similar breach.
Social Engineering Fraud	Loss of money or securities due to fraudulent instructions committed by someone purporting to be the Insured’s employee, client, or vendor
Vendor or Client Payment Fraud	Covers lost products or funds owed to the Insured where, due to a security breach, the insured’s client or vendor is duped into sending money or products to a fraudster rather than the rightful recipient
Business Interruption	Additional coverage triggers of system failure or voluntary shutdown of a computer system
Reputation Harm	Lost business income that occurs as a result of damage to a business’ reputation when an actual or potential cyber event becomes public
Accounting Costs	Fees or costs of a forensic accounting firm to calculate Income Loss, even if this shows there has been none
Extra Expenses	Now includes replacement of Non-Functional Equipment (often referred to as ‘Bricking’ coverage)

Proposition Enhancements

Breach Response cover	Nil Excess applies when notification of a first party event is provided within 72 hours of discovery (for insureds with a turnover below 50million)
Liability cover	Now automatically extended to include Independent Contractors and Additional Insureds (third parties the Insured agrees to name)
Money definition	Includes virtual currency
Policy wording	Simplified layout with all insuring clauses under an individual section now grouped together
HCL Technologies Risk Management	Enhanced suite of risk management materials available to all CyberRisk Insureds, including: Cyber resiliency assessment, followed by access to HCL Technologies Security Coach Helpline to discuss results and how to best improve the Insured’s cyber security HCL Technologies Cyber Security Awareness Training, provided via HCL Technologies cloud-based learning management system HCL Technologies Service Discounts

Increased Limits

Insuring Clause	Old sub-limit	New sub-limit
Computer Fraud	25,000	100,000
Telecom Fraud	25,000	100,000
Fraudulent Impersonation (formerly Funds Transfer Fraud)	25,000	100,000 or 10% of policy aggregate, whichever is less
Dependent Business Interruption	10,000	100,000 or 10% of policy aggregate, whichever is less
Payment Card Expenses (PCI)	50% of policy limit	100% of policy limit
Damage to Computer System	10,000	100% of policy limit (now included under Extra Expense)

Other limits may be available upon request

Partnering with Experts

Net Diligence®

We have a dedicated eRisk hub for our insureds and brokers provided through NetDiligence®, a privately-held cyber risk assessment and data breach services company.

Since 2001, NetDiligence has conducted thousands of enterprise-level cyber risk assessments for a broad variety of organisations, including public entities, financial services, retailers, software developers, medical providers and universities. NetDiligence services are used by leading cyber liability insurers in the U.S. and U.K. to support both loss-control and education objectives.

Cyber pre-breach services from HCL Technologies (formerly Symantec)

Through our partnership with HCL Technologies, we provide the following pre-breach risk management services to help clients better understand cyber risk, and minimise their exposure to a potential cyber event:

Cyber Resilience Readiness Assessment and Cyber Security Professional Consultation - an online evaluation of an organisation’s cybersecurity readiness, in addition to a written report and a 1-hour consultation with an HCL security professional to help improve areas of vulnerability.
Cyber Security Awareness Training - a set of cloud-based learning courses HCL has designed to promote proactive employee behaviour, and to help defend against cybersecurity threats.
Risk Management Expertise - topical insights on current cyber related trends, risks and threats that face organisations in today’s business environment.

We have recently expanded our offering, so now non-policy holders can access our pre-breach services too. If you plan to market Travelers cyber insurance to a client* who could benefit from a consultation with HCL, you can direct them to HCL without even informing Travelers. There is no cost for this service - even if a client does not proceed to purchase cyber insurance from Travelers.

Clients can get in touch directly with HCL by phone on +44 (0)800 587 8366 or emailing sed.cicsecuritycoach@hcl.com. A professional from HCL will respond to arrange a time to speak.

*Available to clients seeking cyber insurance via either the Travelers CyberRisk product or the Travelers Technology/Medical Technical package.