Travelers announced on Tuesday that it will be launching the Travelers Cyber Academy for agents and brokers – a web based training program consisting of eight classes featuring cyber experts, insurance professionals, former FBI agents and “white hat” hackers. This virtual academy will educate agents and brokers with the resources needed to understand cyber risks and help their clients protect against cybercrime.
According to the 2015 Travelers Business Risk Index, cyber risks are the second largest concern for businesses. While interest in cyber insurance is growing at a respectable pace, the growth of cybercrime in the U.S. and abroad appears to be growing exponentially and there is a common concern that agents and brokers do not have a great understanding of various cyber risks. To help navigate clients when choosing a cyber policy, Travelers Cyber Academy will cover the following topics: the dark web, cyber extortion, EMV/chip cards, the Internet of Things (IoT) and others.
“Unfortunately, hacking is big business,” said Tim Francis, vice president and enterprise cyber lead at Travelers. “Although cyber breaches have become commonplace for businesses of all sizes, more can be done to raise awareness of cyber risks and the ways to mitigate them. The Travelers Cyber Academy is one way we can provide additional resources for agents and brokers to help their clients protect against one of the biggest problems companies face today.”