Our Blog & Insurance Related News
5 risk trends company directors and officers need to watch in 2020
“Bad news” events, impact of climate change, bankruptcies and political challenges have increasing risk implications for directors and officers (D&Os). Growth of securities class actions and third party funding globally means litigation against companies and their...
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Lessons About Digital Transformation From Risk-Averse Industries
When it comes to technology adoption, the construction industry offers an interesting case study from which others can learn. Transforming a traditionally low-tech industry — one of the last digital frontiers that has been doing things the same way for decades — to...
read moreProfessional indemnity cover – more crucial than ever
The severity of risks in the liability space have increased two-fold – not only is the frequency of litigation on the rise, but exposures related to professional error have also increased. This is mainly due to factors relating to the poor economy and a skills...
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Cyber security fast becoming investment priority for every business
Companies must prepare for future attacks and security challenges with expert analysis, predictive threat intelligence and advanced detection solutions, says John McLoughlin, CEO of J2 Software. Providing a secure business environment is every company's key concern...
read moreSouth Africa Is Being Attacked by Cybercriminals: What Should You Do?
The past month has been tough for South Africa as multiple major institutions across both the private and public sectors were hit by cyberattacks. It has placed a bright neon sign on the fact that no one is safe in today’s digitally-entrenched world. Not in the least...
read moreArtificial intelligence has the power to change the world – but it is double-edged sword
Artificial Intelligence (AI) is already reconfiguring the world in conspicuous ways. Data drives our global digital ecosystem, and AI technologies reveal patterns in data. Smartphones, smart homes, and smart cities influence how we live and interact, and AI systems...
read moreBusiness survival guide during load shedding
Eskom has announced the return of stage 2 load shedding due to a broken coal conveyor belt at Medupi and boiler tube leaks at five electricity generating units. It's uncertain how long this latest round of load shedding will last, but it serves as a reminder that...
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The password is dead – SMEs must step up account protection
As more attention is directed towards addressing cyber risk, more scrutiny is being given to how organizations are exposed to this risk and how can they deal with it. One particular area that needs attention is the cybersecurity of small and medium businesses, as...
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Cyber security – don’t be a sitting duck!
In July, City Power was hit by ransomware resulting in customers unable to purchase prepaid electricity or access its website. This has again put the spotlight on cyber security and highlight how few organisations, irrespective of their size, are safe from an attack....
read moreHow insurance is responding to climate change?
A senior insurance figure says climate change is forcing the industry to revise its models as it battles to create solutions which suit the increasing frequency of extreme weather events. Speaking to Insurance Business, Andre Martin – head of innovative risk...
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Growth in Fintech Drives Growth in Cyberattacks
Africa’s Fintech sector is booming! According to reports, Africa’s Fintech ecosystem has surged 60% in the last two years and the continent’s Fintech firms have grown to 491 from 301 in 2017, with $132.8 million raised in 2018, making last year the sector’s best year...
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Employee injuries pose massive risks for businesses
Regardless of safety measures, the risk of an employee getting injured at work is ever-present in any business. Indeed, recent research by SHA Specialist Underwriters has shown that nearly a third of corporations had to deal with the serious injury or death of an...
read moreCyber threat intelligence offers proactive defence against today’s complex threats
In an increasingly complex threat landscape, littered with determined adversaries and sophisticated threats, organisations can’t defend themselves if they don’t know what threats they are facing. “If the last few years have shown us anything, they’ve shown that even...
read moreCannabis: The implications for insurance
The legalisation of the private cultivation, possession and use of cannabis in South Africa, following a landmark judgment handed down on September 18, 2018 by the Constitutional Court, has had the effect of changing the law, which will undoubtedly require...
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Remote-jamming, don’t become a statistic
The ever-present warning signs of remote-jamming at shopping malls, petrol stations and roadside stalls is a constant reminder of the very real threat of crime in South Africa. Perpetrators of car break-ins are rarely caught, making it one of the most common crimes in...
read moreFM Global warning – cyber insurance may create false sense of security
New research by FM Global has suggested that cyber insurance may create a false sense of security among senior financial executives at some of the world’s major companies. The FM Global-commissioned study found that seven in 10 senior financial executives at the...
read moreViolent protests must end, or SA risks being stuck in poverty
South Africa risks being trapped in a cycle of poverty and destruction if violent service delivery protests are allowed to continue unabated. Unless civil society, labour and government can find new ways of engaging and solving problems, the country will continue to...
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The top risks posing a threat to insurers, according to Swiss Re
From data privacy regulations to 5G technology implementation, a combination of notable slow-burning risks likely to impact the re/insurance industry over the long-term and new risks whose loss-making potential is often short-term have landed on Swiss Re’s SONAR...
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When climate change becomes the norm, and its impact on insurance
Heat waves, droughts, severe flooding, fires and other effects of climate change are no longer a rarity, but are becoming the norm. And the resultant impact on the insurance industry is huge. Globally, there has been a dramatic rise in both the severity and...
read moreCyber attacks cost $45bn in 2018 as ransomware hits hard
International study finds that hi-tech criminals are getting more sophisticated in targeting their victims Washington — An estimated 2-million cyber attacks in 2018 resulted in more than $45bn in losses as city councils worldwide struggled with ransomware and other...
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