Cyber Insurance for SMEs
Keeping SMEs safe from emerging cyber threats
It’s not only larger companies that are susceptible to data breaches and cyber attacks (such as ransomware). In fact, cyber security data shows that 43% of cyber attacks target small to medium enterprise (SME) businesses, and 60% of SMEs that suffer an attack go out of business within six months.1
This level of impact is why Travelers offers a comprehensive cyber policy that can offer more than protection from financial loss. SME businesses with a CyberRisk Insurance policy from Travelers will have access to a service contact, a dedicated claims handler and breach coaches to support them through a cyber incident and get them back on track.
Our appetite
We cover
These fall within our appetite, and we’re happy to discuss details.
- Accountants
- Construction
- Consultancy
- Financial institutions
- Hotels/restaurants
- Other professions
- Property/real estate
- Public administration
- Retail
- Solicitors
- Wholesale
We’ll consider
We may need more information to confirm a fit.
- Education
- Manufacturing
- Mining/utilities
- Publishing/broadcasting
- Technology*
- Transport
*We have a dedicated global technology underwriting team who we work closely with in identifying specific appetite for the technology sector.
We do not cover
Sorry, we’re currently unable to insure the following.
- Corporate restrictions
- Crypto
- Gambling
- Healthcare
- Infrastructure
- Payment processing
- Security/defence activities
- Streaming
- Utilities
Travelers advantage
In a world of growing digital crime, cyber operations don’t always go to plan. Travelers offers expertise that SME businesses can count on to both prevent and address the evolving digital risks they face, thanks to a detailed and bespoke underwriting process.
- Financial strength. Financial strength and stability with international reach.
- Experience & expertise. Long-term industry experience combined with deep specialist underwriting expertise.
- Superior claims service. Expert Claims teams focused on delivering superior service.
- Dedicated risk managers & consultants. Access to risk consulting from trusted experts.
- HCL Technologies services. One hour of pre-breach consultation and free staff training for cyber policyholders.
- SentinelOne® platform. Access to SentinelOne platform for 60 days at no additional cost for current cyber policyholders.
- NetDiligence® eRiskHub. Access to the NetDiligence eRiskHub portal for policyholders and brokers.
- Cyber breach hotline. 24/7/365 access to a team of experts to respond fast to your breach needs. Tel +44 (0)800 587 8388 (press 2 for cyber).
- eTrade Product – MyTravelers®. Product is available to eTrade on the MyTravelers portal.
SME cyber
We’re big on SME
We’ve brought our specialist mid-market expertise to the SME space. Delivering the same comprehensive cover and outstanding service you’ve come to expect from us, it’s designed to suit the needs of smaller businesses.
With both the capacity and the product suite to partner with SMEs for the long-term, we can offer support from humble beginnings to bigger things.
And because we’re all about insuring ambition, you’ll always be confident that the growth mindset of you and your clients will be fully matched by our own.
SME cyber covers & highlights
-
Forensic investigations
-
Litigation expenses associated with the breach
-
Regulatory defence expenses/fines
-
Crisis management expenses
-
Business interruption
-
Cyber extortion
-
Post-breach coverage
- Betterment
- Computer system improvement costs
- Betterment
Related products
Technology
As the technology sector changes, insurance protection needs to evolve with it. Travelers can help anticipate potential risks so clients have more freedom to innovate.
SME management liability package
Our online management liability package platform makes it easy to quote and bind coverage instantly, enabling our broker partners to quickly get broad, flexible coverage tailored to specific needs.
Professional indemnity combined
Travelers’ professional indemnity (PI) combined product offers a comprehensive and convenient insurance solution, covering PI, property, liability and cyber fundamentals, with an option to include legal expenses.
Let’s start the right conversation
For business
Find a broker
If you’re looking for covers and have a broker, ask about Travelers products.
If you need a broker, start with the right broker directory.
Need to call us directly? Contact us.
For brokers
Ready to chat?
Let’s work together to build the right cover for your client.
Available to eTrade
Log in to MyTravelers® or Acturis.
MyTravelers
MyTravelers is a dedicated web platform for registered brokers.
Have a new business idea? Contact our Schemes team.
Cyber risk landscape
Breaches in sensitive information
In the case of a hacker obtaining sensitive personal information from an SME-sized business’s computer system, the result could be devastating. Multiple customers could bring a claim against them for allowing access to their personal information.
However, if they had a Travelers SME policy, the damages and defence costs would be covered for the relevant lawsuits.
Plagiarism lawsuit
If a third party were to bring a lawsuit against a business with a Travelers SME cyber policy, the damages and defence costs would be covered for the relevant lawsuits.
An example case would be a third party alleging a business had plagiarised its online content and organisational branding, as well as infringed upon its trademarks.
Data ransom
A business system is infected with a virus that encrypts data, resulting in a ransom payment being demanded to unlock the system. If the affected business has cyber insurance from Travelers, covered costs would include managing and mitigating the incident and, if necessary, payment of the ransom demand.
Data fraud
A fraudster obtains information from the insured business and uses that information to impersonate said business to its bank. If the fraudster requests a £100,000 transfer from the business’s bank account, they would receive a reimbursement of those funds.
Inoperable computer system
An organisation’s computer system is rendered inoperable through employee negligence, resulting in operations being shut down for an extended period. With a Travelers cyber policy, the business affected would be indemnified for the lost income as a result of the disruption and expenses incurred to restore operations.
Cyber safety tool
Our new cyber safety tool, developed by The Association of British Insurers, allows companies to self-assess risks and plug the gaps in their cyber set-up with a free, tailored plan.
Discover the cyber safety tool.
Insights & industry knowledge
Articles to help your ambition succeed
Cyber Security Resources
Why Buy Standalone Cyber Insurance?
Cyber breaches continue to be a pervasive and evolving problem for businesses of all sizes.
Legal Sector Resources
As Threat Actors Use AI to Escalate Cyber Threats, How Can Law Firms Protect Themselves?
In the past year, new developments in technology have ushered in transformative possibilities for how law firms operate.
Small and Medium-Sized Enterprises (SME) Resources
Office Risks Generate Frequent Claims for Smaller Businesses – but They Don’t Have To
If protecting against office risks falls down the priority list for smaller businesses, meaningful disruptions and damage can result.
