Our Blog & Insurance Related News

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....

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How 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...

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Cannabis: 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...

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Violent 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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Cyber 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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Why 5G spells danger for insurers

Swiss Re’s annual analysis of emerging risks with the potential to have major impacts on insurers includes some of the usual suspects – climate change and the state of the global economy among them.   But the list also contains a new entrant currently at the centre of...

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Risk management now ‘moving centre stage’

An Airmic member survey has revealed risk management is becoming the profession to watch in the insurance industry.   The survey, which was launched at the Airmic member conference last week in Harrogate, found that 29% of Airmic members have responsibility for risk...

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Beazley reports surge in ransomware attack notifications

It looks like perpetrators of ransomware attacks are not letting up.   If Beazley’s latest breach insights report is anything to go by, the message is clear and simple: the number of attacks and the average ransom demand is only getting bigger. In fact, the Beazley...

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