You have done everything you can to make your gym a safe place for members and employees. You think you have all the protection you need. You feel good. You feel satisfied. Then, out of nowhere something or someone you can’t even see clobbers you and brings you and your club to your knees.
That’s how cyber-criminals work.
They work in ways that are difficult and sometimes impossible to see. They work by hacking into computer systems. Sometimes it’s your system; sometimes it’s the system of someone you work with. Sometimes they are attempting to steal important information that allows them to steal a person’s identity. This is why I urge club owners to get cyber liability insurance coverage. In this day and age, it’s an absolute must have.
Here’s an example of what can happen.
Let’s say a Trojan horse attacks your billing company and you are unable to collect dues. In the meantime, your cash flow stops and you need to hire experts to find the bug, fix it, and work with your bank’s Internet processing until the problem is fixed. You would be in a position to have to operate your club anywhere from 40-60 days without your billing check. Ask yourself if you could survive that. Many clubs cannot afford to pay their bills without the cash flow of their billing check even for a couple of weeks.
Even though the attack was not made on your club’s computer system, it affects your club. This is the kind of invisible attack that has widespread affects. It can and has destroyed clubs. Don’t be one of those hard heads who think “This will never happen to me.” Your potential fiscal existence can be compromised by just one cyber-liability claim.