2024 | Orchid Risk Services™

Alarming surge in AI-driven cybercrime

Sep 27, 2024 | 2024, AI

Trend Micro has warned that threat actors have bounced back from recent law enforcement efforts to unleash a new wave of attacks leveraging AI and other techniques – revealing that it blocked almost 47-million email threats, more than 7 000 ransomware attempts, and...

Crop insurance critical to safeguard SA’s food security

Sep 6, 2024 | 2024, agriculture, insurance, South Africa

The agriculture sector is integral to both the South African economy as well as our food security. According to the latest Santam Insurance Barometer report, the industry contributes around R400 billion to gross domestic product each year, supports 870 000 jobs, and...

SA’s insurance industry to hit R200 billion by 2028 as disasters, cyber crimes take their toll.

Aug 30, 2024 | 2024, insurance, insurance news, Latest Insurance Articles, South Africa

South Africa’s general insurance industry is set to grow at a compound annual growth rate of 5.8% in the next four years, according to a forecast by GlobalData. The global analytics and data company predicted that the value of gross written premiums in the country...

Big insurance changes planned for South Africa

Aug 9, 2024 | 2024, insurance, insurance news, South Africa

Major changes are set to be made to South African insurance products as the Prudential Authority approved the launch of weather index-based products to mitigate against an insurance crisis due to climate change. South Africa’s insurance industry has come under...

Cyber crooks target financial service providers to get at sensitive client data

Aug 2, 2024 | 2024, Cybersecurity and business, South Africa

Financial service providers are increasingly being targeted by hackers because they hold sensitive information about their clients. This data is indeed a rich treasure trove of information that can be used to commit fraud should it fall into the wrong hands. This is...

Standardisation helps to bullet-proof OT security.

Jul 26, 2024 | 2024, Cybersecurity and business, South Africa

South Africa is not being spared the scourge of cyberattacks on operational technology (OT) networks. As recently as 22 June, the National Health Laboratory Service was hit by a ransomware attack that blocked communications between its information systems, resulting...