Apr 20, 2022 | Articles, cyber, insurance, insurance news, Latest Insurance Articles, short term insurance, Short Term Insurance News
There can be no doubt that ransomware attacks are on the rise across the globe – a simple online search will reveal thousands of statistics in this regard, and South Africa is no exception. What is also clear from numerous examples of successful breaches, is the...
Apr 8, 2022 | Articles, cyber, insurance, insurance news, Latest Insurance Articles, short term insurance, Short Term Insurance News
South Africa has seen a dramatic rise in cyberattacks and successful breaches during the past two years as well as an accompanying surge in ransom demands. In the most recent high-profile attack, credit reporting agency TransUnion South Africa revealed that at least...
Mar 25, 2022 | Articles, cyber, insurance, insurance news, Latest Insurance Articles, short term insurance, Short Term Insurance News
Credit bureau TransUnion could be slapped with a R10-million fine after it suffered a data breach that compromised the personal information of millions of South Africans, the Information Regulator of South Africa has said. The company confirmed on Thursday that a...
Mar 17, 2022 | Articles, cyber, insurance, insurance news, Latest Insurance Articles, short term insurance, Short Term Insurance News
Underfunding of critical cyber defences is leaving South African organisations exposed to damaging cyberattacks. New research has found that 97 percent of South African organisations say they have been negatively impacted by a lack of budget for their cyber resilience...
Mar 4, 2022 | Articles, cyber, insurance, insurance news, Latest Insurance Articles, short term insurance, Short Term Insurance News
Analysis by global reinsurance broker, Gallagher Re, finds that by 2040 the cyber market will become comparable in size to either property or casualty as the segment experiences a second wave of growth from 2023. Gallagher Re’s cyber reinsurance team has published a...
Feb 25, 2022 | Articles, cyber, insurance, insurance news, Latest Insurance Articles, short term insurance, Short Term Insurance News
An explosion in costly cyberattacks created a rapidly growing niche business: cyber insurance. The industry generated $8 billion in revenue in 2020. The number may grow to $20 billion by 2025. “Seven or eight years ago, this was never discussed,” said Rob...
