Beazley vs Travelers: How Do They Compare for Cyber Insurance?

Beazley says Full Spectrum Cyber is available to accounts with under $35 million in annual revenue, with coverage limits up to $5 million, purchased by a broker through Beazley's myBeazley platform. ¹Company-reported. Full Spectrum Cyber product page eligibility paragraph; eligibility for a particular business still depends on underwriting.

Travelers targets CyberRisk Tech at technology and life-sciences companies, citing their reliance on digital systems and sensitive data, including intellectual property and patient or clinical information. ⁵Company-reported. Product page introduction.

Beazley says brokers can get a quote and bind Full Spectrum Cyber through its myBeazley platform for qualifying small accounts. The MediaTech application separately asks about ransomware controls such as multi-factor authentication, VPN use, patch timing and backup frequency, which affect underwriting. ^1,4Company-reported. Full Spectrum Cyber product page myBeazley paragraph and MediaTech application Ransomware Controls section; a completed application does not establish acceptance, and myBeazley is a broker tool, not a direct-to-business portal.

CyberRisk Tech is bought through a Travelers independent agent or Travelers representative. ⁵Company-reported. Product page "Consult your insurance agent about cyber insurance for technology and life sciences" section.

The sample MediaTech cyber insuring agreements cover Breach Response Costs after an actual or suspected data breach, Cyber Extortion Loss from an extortion threat, business interruption loss from a security breach or system failure, and eCrime losses from fraudulent instruction, funds transfer fraud or telephone fraud. ³Company-reported. Sample policy form F00731, 022019 edition; the issued policy's wording and any endorsements control, and a stand-alone Full Spectrum Cyber policy may use different wording.

Travelers says CyberRisk Tech includes technology errors and omissions, privacy and security, media and regulatory proceedings liability insuring agreements, plus breach response, cybercrime and business loss (first-party) coverages such as forensic investigations, public relations costs, business interruption loss and cyber extortion costs. ⁵Company-reported. Product page "How does CyberRisk tech coverage mitigate cyber risk?" and "What does cyber insurance coverage for technology companies include?" sections; exact terms and exclusions are set by the issued policy.

For small businesses, Beazley sells cyber coverage two ways: as Full Spectrum Cyber, built around its Beazley Breach Response product plus integrated risk-management services from its in-house Beazley Security unit, and as the cyber component bundled inside the broader MediaTech form alongside tech E&O, professional E&O and media liability. ^1,2Company-reported. US small-business product pages for Full Spectrum Cyber and MediaTech; does not address any larger-account cyber program Beazley may write separately.

Travelers underwrites CyberRisk Tech as a scalable policy for technology and life-sciences companies, letting a business choose cyber protection, technology E&O protection, or both within the same policy. ⁵Company-reported. Product page "What does cyber insurance coverage for technology companies include?" section.

Full Spectrum Cyber policyholders get discounted access to vendor services, including anti-phishing tools and training, email security services, cyber risk analysis and other pre-breach prevention services, through Beazley's partnership with its in-house Beazley Security unit. ¹Company-reported. Full Spectrum Cyber product page Vendor Services section; discount terms and vendor identities are not disclosed on the page.

Travelers includes Cyber Risk Services at no additional cost for Cyber-coverage policyholders: a 24/7 Cyber Risk Dashboard, continuous threat monitoring, pre-breach consultation, and post-breach support pairing policyholders with Claim specialists and an outside cyber breach coach who connects them to forensics investigators and crisis communications professionals. ⁵Company-reported. Product page "How can technology companies identify cyber risks earlier?" and "How do Cyber Risk Services support technology and life sciences policyholders?" sections; availability varies by policy eligibility.

Travelers says organizations that engaged with its Cyber Risk Dashboard and related services saw cyber claim frequency and severity reduced by nearly 20% compared with policyholders that did not, based on its own claims data. ⁵Company-reported. Product page footnote on the risk-reduction statistic; this is a company-reported outcome, not independently verified.