Travelers Launches CyberRisk

Travelers has launched CyberRisk, a product from Travelers Bond & Financial Products, dedicated to limiting client cyber exposures and managing associated risks.

CyberRisk policy was designed to provide a comprehensive solution with both the flexibility and scalability to meet the needs of companies of all sizes across all industries, says Travelers. CyberRisk will be offered through Travelers’ suite of management liability products, including Wrap+ for private and non-profit organizations, Executive Choice+ for public companies, and SelectOne+ for financial institutions. Insureds can build a custom CyberRisk policy that fits their business needs, based on 10 coverage options, Travelers says.

The insurer says these options address exposures and the ripple effects associated with a cyber-related event, including third-party liability coverage, network and information security liability, communications and media liability, regulatory defense expenses, first-party coverage, crisis management event expenses, security breach remediation and notification expenses, computer program and electronic data restoration expenses, computer fraud, funds transfer fraud, e-commerce extortion, and business interruption and additional expenses.

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