Outdoor Sports Insurance (outdoorsportsins.com), a broker in ski, bike and outdoor markets, will attend the outdoor specialty retailer buying show, Connect by Grassroots, from November 8 – 11 at Booth 16.
“Grassroots Connect is one of our most important trade shows of the year,” said Rob Martin, managing director of Outdoor Sports Insurance. “It’s a refreshing departure from flashy, media-driven events and gives us time to talk directly with reps, brands and retailers about insurance trends and their needs. Coming back after a year-long hiatus means we have plenty to catch up on.”
Outdoor Sports Insurance will be available each day of the trade show to discuss risk management, cyber security, and how a specialty retailer can mitigate its liability while offering a complete gamut of outdoor gear, demos and events.
With 35 years of experience and insuring more than 2,500 ski, bike, and outdoor retailers and manufacturers, Outdoor Sports Insurance is an expert on risks faced by outdoor industry businesses.
In the last year, Outdoor Sports Insurance has seen a multitude of changes in the outdoor industry from new product rental categories to more independent retailers doing business online and being exposed to cyber security threats.
According to a NetDiligence 2020 Cyber Claims study, the average cost of a network breach to businesses with less than 200 employees is estimated to be between $200,000 and $750,000. Less than 25 percent of those businesses carried the proper network security coverage, and even fewer had a formal incident response plan in place. Furthermore, of those businesses that did not carry proper protection, more than 60 percent were out of business within six months.
Outdoor Sports Insurance works across multiple carriers to make sure all outdoor-industry businesses can find the right policy with the appropriate coverage at an affordable premium. Included in the program is comprehensive insurance coverage on gear rentals, demos, liability, workers’ compensation and more. Cyber policyholders also have access to a 24/7 cyber response hotline, educational tools to help network users identify threats and phishing campaigns, recommendations for protective software implementations, and best practices for user protocol of a business’s IT property and systems.
“Cyber threats have quickly become a leading issue for small and mid-sized businesses,” Martin disclosed. “A network breach isn’t something most outdoor brands and retailers think about on a daily basis, but it should be. If you own a business that operates a website, uses a connected POS system or communicates internally via an online network, you’re exposed to third-party threats and should consider putting a response plan in place.”
To learn more about Outdoor Sports Insurance’s offerings or discuss risk management for your businesses, contact osi@horizonagency.com or stop by booth 16 at Connect.
