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Travelers to provide cyber insurance for small businesses

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Travelers has launched a new cyber insurance product called "CyberFirst Essentials — Small Business" as part of its MasterPac business owners policy, reports Security Week.

The move comes after the insurer's survey of small business owners found that only 29% were confident of having adequate insurance against cyber liability. The new product protects small businesses against online hacking, data breaches and accidental loss or sharing of personally-identifiable information by providing coverage for the associated costs. The product cost starts from $120 with flexible limits ranging from $25,000 to $250,000.

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