Newly-formed travel firms have been warned about the dangers of cyber-attacks to their business and urged to ensure they have full insurance cover.
Alan Pattison, managing director of Travel Risk Professionals (TRP), told a webinar for new travel businesses the issue merited “a lot of attention” from business owners, adding that cyber insurance should be a consideration for all start-ups.
Speaking at the TRP event hosted alongside Travlaw and the Travel Trade Consultancy, he said: “Cyber is one of the fastest growing risks faced by most industries, not just the travel industry. If you’ve got a website or an email system then you are exposed to a cyber-attack.
“There’s an inclination that if you’ve got anti-viral software or firewalls that you’ll be ok. The short of the story is if someone breaks into your system and they get in, the damage they can cause is incalculable, arguably far greater than someone smashing in your office door and nicking your computer.
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“It could be devastating and it’s definitely worth looking at insurance.”
With cyber insurance cover, travel firms would have access to a range of experts – including forensic specialists, investigators, PRs, and legal professionals – to help them navigate through the crisis, Pattison added.
“Cyber insurance is definitely worth the paper that it is written on,” he added.
He said that travel businesses were exposed to “more risk and variety of risk” than in most industries.
“As you grow as a company so does your variety of risks that you face,” he added.