Travelers discusses how to insure cyber threats

Travelers discusses how to insure cyber threats



every tech company has data or touches data that belongs to a third party it might be account numbers passwords corporate data employee information or mailing lists when that information gets into the wrong hands that tech company can be liable and the costs can be huge I'm Kirsten Simonson from travelers and i'm in charge of cyber coverage for midsize and large technology companies hi I'm Clare kannagi and i'm in charge of cyber coverage for small tech companies at travelers think of the implications of a cyber event customer information is stolen from a laptop or by a hacker the company needs to figure out what actually happened they need to hire investigators to determine what data was stolen they have to try to retrieve or restore that data and they may need to send out notifications to impact at individuals certainly their reputation may be at risk and last but certainly not least they could be sued and it can happen to a tech company of any size small companies are just as vulnerable as large ones and they need to be just as aware of the threats tech companies of all sizes did the level of protection that's right for them and the threats are changing all the time every new innovation brings with it a new threat my job is to understand the trends so we can see new threats and determine how we respond to protect our customers we understand the implications of a data breach a software failure or stolen trade secrets our job is to offer a solution that's what we're here for that's what we're good at

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