The Travelers Small Business Risk Education (SBRE) program provides safety risk management education for minority- and women-owned small businesses. Travelers has partnered with nonprofit organizations in Los Angeles and Chicago to deliver the following:
In 2011, Travelers conducted a survey of women-owned businesses at the National Association of Women Business Owners conference. Eighty-two percent of respondents believe they are extremely or somewhat confident that they know their risks; however only 52 percent have a business continuity plan. As Travelers explored the greatest risk mitigation needs among small businesses, it discovered that many small business education programs do not address concepts of safety risk and business continuity. Travelers believes this is an important knowledge gap for business owners, and one it can help address through its expertise as a property casualty insurer.
Amid the daily challenges of running a business, it is all too easy for small business owners not to recognize the risks that are around them, or the importance of adequate coverage. A broad understanding of the risks they face will help sustain small businesses and help them grow, even after catastrophic events.
In 2012, Travelers piloted the SBRE program in Los Angeles in partnership with the Valley Economic Development Center, California's largest microfinancing organization. In 2013, the program was expanded to Chicago in partnership with the Women's Business Development Center (WBDC), one of the nation's largest women's business centers focused on creating jobs and fueling economic growth through business ownership, and Accion, a global nonprofit organization that supports microfinance institutions. In 2014, Travelers plans to expand the program to Atlanta and New York City.
Hear from the SBRE participants