Sports & Leisure sector asking for Cyber & data protection insurance
The arrival of GDPR, the reliance upon computer systems and the reoccurring threat of criminal and accidental data breaches has highlighted to the Sports & Leisure industry that they need to take steps to protect their data and insure against the consequences of a data breach.
Most businesses in the sports & leisure sector collect customer details, which often includes sensitive information such as date of birth, medical conditions and bank account details. In addition, the business will have their own staff details, customer bookings, risk assessments, training records and financial information. A breach of the computer system could leave the business open to litigation, fines and penalties as well as potentially bringing the business to a close if data is irrecoverable – or the brand severely damaged. Without insurance even a small breach could be catastrophic.
Research shows that most data breaches come about because of human error, either accidentally creating a breach or by not having the training to spot criminal activity, such as phishing. Sports and leisure businesses are especially vulnerable because they often have a transient workforce made up of people who lack the knowledge and experience in the secure use of computers and data. So even with good protections in place, a careless (or criminal) user can cause no end of problems.
How can cyber insurance help?
A cyber and data insurance policy is designed to assist businesses who suffer a data breach by providing technical, legal, and crisis management experts to quickly find the problem, restore systems and data, deal with legal and regulatory issues and handle communications and reputational management. It can also pay fines and penalties, repay stolen money, refund lost income and pay ransoms.
If you need help understanding and managing the risks your business faces, then get in touch with one of our team.