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7 Nov 2024

Torq Zone Academy proudly celebrates 10 years as the pioneering institution for bicycle technician trainingRead more…

6 Nov 2024

Glasgow is set to receive a substantial boost for cycling infrastructure and community facilities, with over £500,000 of funding to be provided to two major projects.

6 Nov 2024

ACT members won numerous awards and dominated certain category nominations at last week’s BikeBiz Awards 2024 in Birmingham.

1 Nov 2024

Independent retailers across Britain have reacted with dismay to yesterday's Budget, with many warning of store closures, job losses and cancelled expansion plans.

30 Oct 2024

The British Independent Retailers Association (Bira) and the ACT have condemned today's Budget as the most damaging for independent retailers in recent memory, with...

30 Oct 2024

Retailers and hospitality businesses are paying three times their economic share in business rates, according to analysis by the British Retail Consortium (BRC) and UK Hospitality.

30 Oct 2024

eBay is tightening regulations on e-bike and e-bike battery sales in the UK from 31 October, in a change aimed at prioritising consumer safety.

29 Oct 2024

Eighteen organisations, including Cycling UK, Greenpeace, The Centre for Mental Health, and The Association of Directors of Public Health, have urged the Chancellor to allocate 10% of the...

24 Oct 2024

Peloton Interactive has strategically launched a rental programme, broadening its market appeal. Traditionally, Peloton’s offerings have been positioned as premium, high-investment...

22 Oct 2024

UK cycling manufacturer Whyte Bikes has announced the closure of its three cycling experience hubs following a major shift in the company’s strategy, which includes supporting independent...

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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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