Cyber Insurance in the sports world
Many of us interact with sport across multiple channels. But whether you’re a player, coach, staff member or fan, you probably don’t realise the cyber risks associated with the industry.
If you work in sport, you’ll know the scope and reach it has on its players, coaches, staff and fans. What you’ll probably consider less, however, is the amount of data required for the effective day-to-day running of sport businesses.
Whichever area of sport you work in, whether you’re a fan, coach, manager, organiser, promoter or something similar, you’ll no doubt rely on a great deal of data from all areas, much of which is sensitive information.
What could go wrong?
Consider the data relating to technical analysis and game plans. What would happen if a cybercriminal hacked this information and released it to the public?
What about the technology which controls things like training facilities? If a hack damages these, it could impact your preparation for upcoming games or competitions.
Your social media accounts are often the face of your branding, so what would happen if malicious software knocked them offline or, seen prevalently in recent years, hackers post statuses which go against what the club or company stands for. This could impact your reputation and distract your players or staff.
Perhaps the most dangerous type of cyberattack for sports clubs would be the more sensitive information that could have serious issues if breached. This includes medical records for your players, personal information for your staff and players, as well as financial information relating to the business as a whole.
If this type of information is exposed to members of the public, it undermines your club or company and everybody affiliated with it, including yourself.
What to do
Cyber security isn’t just about having an awareness to react to cyber-attacks. If a member of your staff open an email and click a harmful link unknowingly, it could infect your whole business. Having the right software infrastructure in place can assist in identifying risks and eliminating potential incidents, but the techniques hackers use are becoming more elaborate and more hazardous. Cybercriminals are also becoming younger and the attitude and motivation to hack a business isn’t just about monetary gain and more to do with reputation. If your club or business is respected among young people in your area, this reputation could increase your level of risk.
How to recover
The culmination is that sometimes, hacks can feel almost unavoidable. Like your time on the pitch, however, it’s about how you respond. Post-hack, it’s crucial that the damage is minimised and the crisis is efficiently controlled.
If your usual business is interrupted, it’s essential you’re back on your feet as soon as possible, and reconnecting with followers on social media could be useful to maintain the core strength of your brand.
At Full Time Cover, we have experience working with all types of sports businesses at all levels, from individual players to large corporations. It pays to use a broker who know what they’re doing and we have the knowledge and the skills to protect you from any and every risk you face.
To find out more about our cyber insurance products, just give us a call.