IRVINE, Calif.--(BUSINESS WIRE)--The Travelers Institute, the public policy division of The Travelers Companies, Inc. (NYSE: TRV), today will host its Small Business – Big Opportunity symposium to discuss potential solutions to the threats currently facing small businesses, including cyber breaches and predatory lending.
Reports show that while small businesses are regularly targeted by cyber criminals, they may not be prepared to protect themselves against an attack. For instance, Verizon’s 2018 Data Breach Investigations Report found that 58 percent of small businesses reported being a victim of a data breach in 2017. Yet, the 2017 Travelers Risk Index found only 11 percent of the small business leaders who were surveyed had created a cyber/data breach incident response plan.
“Small businesses are critically important contributors to the U.S. economy, but they often need help tackling cyber incidents and other unexpected events that can disrupt their operations,” said Behram Dinshaw, Executive Vice President and President, Small Commercial at Travelers. “We’re proud to hold this event during National Small Business Week to arm small business owners with proven tips and tools to overcome their challenges.”
The U.S. Small Business Administration Orange County/Inland Empire District Office, the Orange County Inland Empire Small Business Development Center (SBDC) Network and Small Business California will join the Travelers Institute in hosting the event.
Hector V. Barreto, Chairman of The Latino Coalition and former Administrator of the U.S. Small Business Administration, will deliver the keynote address, which will focus on how small business owners can engage their local government officials to help address obstacles.
“In business, it’s not as much about what you make — it’s about what you get to keep,” said Barreto. “The greatest goal of a small business owner is to keep more of what they make, and the ability to do that is directly impacted by taxes and regulations, as well as the cost of health care and energy. That’s why I encourage business owners of all sizes to engage with the elected officials who are making the policies impacting their business. The small business community’s voice matters, and I believe we are being heard.”
The event will also feature a panel discussion on finding solutions to small business challenges. Joan Woodward, President of the Travelers Institute and Executive Vice President of Public Policy at Travelers, will moderate and be joined by:
- Mike Daniel, Regional Director, Orange County Inland Empire SBDC Network
- Ellen Lansden, Assistant United States Attorney, Cyber and Intellectual Property Crimes Section, United States Attorney’s Office, Central District of California
- Arturo Pedroza, Senior Risk Control Consultant, Risk Control, Travelers
- Stacy Procter, Attorney, Western Region – Los Angeles Office, Federal Trade Commission
Visit the Travelers Institute website for more information on the Small Business – Big Opportunity series.
About the Travelers Institute
The Travelers Institute, the public policy division of The Travelers Companies, Inc., engages in discussion and analysis of public policy topics of importance to the insurance marketplace and to the financial services industry more broadly. The Travelers Institute draws upon the industry expertise of Travelers’ senior management, as well as the technical expertise of many of Travelers’ underwriters, risk managers and other experts to provide information, analysis and solutions to public policymakers and regulators. Travelers is a leading provider of property and casualty insurance for auto, home and business. For more information, visit travelers.com.