Sportscover introduces insurance product to tackle growing cyber-attack threats

November 17, 2024

In response to the threat of cyber-attack to businesses and organisations across the leisure industry, insurer Sportscover have partnered with international insurance specialists Beazley to provide leisure organisations, sports clubs and bodies protection to offer a solution.

Sportscover’s Cyber Breach Response (CBR) insurance is an across-the-board solution for data privacy and security risk management offering leisure organisations and businesses a variety of tailored solutions created to protect against the dangerous world of cyber risk, as well as provide support at every stage of an actual or suspected cyber breach incident.

Explaining that this was the natural next step to take as an insurance provider, Sportscover Australia Managing Director, Chris Nash stated “regardless of where we operate from, we live in a digital world and there is no escaping it.

“Australia’s leisure sector is no different than any other when it comes to the dangers posed by cyber-crime, which are unfortunately now an everyday risk faced by organisations globally.

“CBR is designed as a complete solution for data protection and security risk management to address these challenges head on.”

With consumers and regulators looking favourably on organisations that take prompt steps to contain, remediate and learn from breaches, Nash adds “we need to be at the forefront of protecting Australia’s sports and leisure sectors.

“We anticipate CBR to ‘change the game’ for all leisure businesses who are at risk of their personal data being compromised, not only to protect them financially, but also from the legal, and reputational damage that comes with any type of data breach, which can be significant.

“We believe this type of protection is something that all sports and leisure sector businesses should strongly consider.”

Already established as a leading underwriter of personal accident, contingency, liability, travel and legal expense products, Sportscover’s reputation of being an innovative market leader has continued for over 35 years.

It sees this new product as being vital for Australia’s leisure industry as the threat of cyber-attacks and data breaches continues to grow.

In the 2023 financial year, the Australian Cyber Security Centre (ACSC) received approximately 94,000 cybercrime reports, up from 76,000 the previous year. Additionally, the Australian Government revealed the average cost of cybercrime per report rose by 14% from 2021/22, to $71,600 for large businesses, $97,200 for mid-size businesses and $46,000 for small businesses.

Click here to contact Sportscover Australia Pty Ltd via their entry in the Australasian Leisure Management Supplier Direectory.

Image credit: Shutterstock.

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