Cybersecurity Initiative

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3/21/23 Travelers Institute Cybersecurity Symposium New York Stock Exchange

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Text, Travelers Institute (registered trademark). Logo, Travelers, a red umbrella. Text, Cyber. Prepare. Prevent. Mitigate. Restore. Travelers Institute Cybersecurity Symposium. New York Stock Exchange.

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JOAN WOODWARD: We're here today at the New York Stock Exchange to celebrate our 50th cybersecurity symposium, under the Cyber: Prepare, Prevent, Restore and Mitigate series. We started the series seven years ago. And so we're thrilled to be here and to be back at the New York Stock Exchange.

TIM FRANCIS: Travelers plays a tremendous role in helping our customers, and by virtue the private sector, be resilient to cyber events.

RYAN HEBERT: Over the past couple decades, people have seen that cybersecurity is a part of every different step within the business.

VALERIE COFIELD: CISA is America's cyberdefense agency. So, as we've seen the proliferation of technology just across and embedded in all of society, especially our critical infrastructure, the federal government saw a need to have one agency focused on that mission.

JENNIFER COUGHLIN: Right now is very interesting because we aren't seeing ransomware as the number one type of event that we're handling. 2018 to 2021, ransomware was number one, and number one by a lot. But right now we're seeing business email compromises be number one. Be prepared. Be ready to detect. Be ready to defend. Be ready to recover.

VALERIE COFIELD: We really do encourage businesses to educate their employees. Unfortunately, still 90% of all cyberattacks happen through a phishing email. And so it's really important for your employees to know about phishing.

RYAN HEBERT: Don't just buy a solution, or fix a solution, or build a solution, and then stick with it, right? You need to be really aggressive about breaking off, seeing what else is out there in emerging tech. Making sure what you're using is the best fit for you. Or if something out there has been built, or something that you can build yourselves that would improve upon it. Never be stagnant.

TIM FRANCIS: I think what we've learned after doing 50 of these events is that people are still hungry for knowledge. They recognize that cyber is a threat, they're seeking knowledge about how they can prevent these attacks, and what insurance and insurance products can do for them.

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