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8 Dec 2022

Four in ten Britons dream of starting their own small business, with bookshops the most popular choice, according to new research by American Express Shop Small.

7 Dec 2022

During a tough economic climate with significant challenges for retailers, the Daily Telegraph has named 15 high streets around the country that it says, “retain a healthy selection of...

6 Dec 2022

The BBC has published comprehensive analysis of Ordnance Survey data that reveals the full extent of changes to Britain's High Streets after two years of Covid lockdowns and trading...

30 Nov 2022

Cycling UK has published its annual 100 Women in Cycling 2022 list celebrating inspirational women in cycling.

30 Nov 2022

Cycling in London has increased by 40% since the start of the pandemic, including a near-doubling of journeys by bike at the weekend, according to the newly published annual Travel in London...

29 Nov 2022

The Business Secretary, Grant Shapps, has announced that businesses are to be given a further two years to apply new product safety marking.

29 Nov 2022

A new survey of 2,000 British cyclists, which is part of a wider European report, claims that only just over a quarter of people in the UK think their local cycling infrastructure has improved...

28 Nov 2022

VOLT announces its new insurance collaboration with LAKA, three-time winners of the Best Cycle Insurance Provider category at the Insurance Choice Awards and pioneers of the ‘collective...

24 Nov 2022

According to a new survey, Cambridge is the best in the country for independent shopping to support small businesses. The study found that many of the city's small businesses turned out to be...

22 Nov 2022

Groups of independent retailers in York are to receive a £25,000 funding boost to help with promotion during the Christmas trading period and to attract more customers in 2023.

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Cyber risk for the cycling industry

Posted on in Business News , Cycles News

As the world evolves alongside advancements in technology, the ways in which business is conducted, and their associated risks, do too. Cyber risk is now present in most business operations and business owners are beginning to understand that you do not need to be a digital business to be exposed to cyber risks, only digitally dependent.

So, what do we mean by a business that is digitally dependent? We mean any business that relies on digital services or data to operate. For example, an cycling business may not see themselves as a digital business, but they rely more on technology and data today than they ever have done before.

Some of the common ways in which cycling business rely on technology are:

  • Creation and storage of invoices and receipts
  • Taking and making electronic payments (via computer or mobile)
  • Use of email
  • Storage of employees and customers personal information (names, addresses, payment details)
  • Social media or online marketing
  • Online sale of bicycles, parts or services

Cyber Insurance

Cyber Insurance can be sought to cover the costs of each loss caused by cyber attacks. Whilst it is important to remember that not all cyber insurance policies are the same, OSR, in association with long-standing ACT partner Butterworth Spengler CycleSure, are pleased to confirm that Optimum Cyber Plus policy can provide the following benefits:

  • Cover for Business or Network Interruption losses including costs associated with Reputational Harm
  • Cover extended to Cloud or Outsourced locations
  • Cover for E-theft losses with no hack or penetration of the network (Social Engineering)
  • 24/7 Incident response team comprised of IT Forensics experts, Lawyers and PR experts
  • Cover for Human Error or accidental deletion of data
  • Liability for losses caused by the transfer of any Malware, Virus or Ransomware to a third party
  • Liability and Compensation costs associated with a data breach or breach of any privacy legislation

In addition to the policy coverage, all OSR policyholders receive the following suite of complimentary Risk Management aides:

  • A network vulnerability scan, and 2 days free consultancy to resolve any issues highlighted by the scan, from KryptoKloud
  • A complimentary, one-hour consultation with one of the UK’s leading GDPR consultancy practices, GDPR123.
  • Employee security awareness training modules covering Cyber Crime, Data Protection and Security
  • Access to a Cyber Essentials Certification and Management
  • Commercial Grade antivirus and offsite backups from Avast for businesses turning over up to £5m annually.

Fore more information on Cyber Insurance visit the ACT website here.

 

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