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Growing threats highlight importance of cyber insurance

Growing threats highlight importance of cyber insurance

Cyberattacks on South African companies are on the rise. Local insurers and incident response teams reporting the highest level of incidents they have ever seen, , as these attacks become more frequent and sophisticated, the majority of local businesses can expect to...

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Critical infrastructure blackouts and cyber threats

Critical infrastructure blackouts and cyber threats

It is both stability and change in the Allianz Risk Barometer 2023. Cyber incidents and business interruption rank as the biggest company concerns for the second year in succession (both with 34% of all responses), however, it is macroeconomic developments such as...

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How Location Technology is Revolutionising Insurance Risk

How Location Technology is Revolutionising Insurance Risk

Since insurance first started centuries ago, premiums have been determined on the basis of client risk profiles, with insurers pooling risk across large numbers of clients to take advantage of the laws of large numbers. It has always been an imperative for insurers to...

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What will cybersecurity look like next year?

What will cybersecurity look like next year?

In 2022, governments fought wars online, businesses were affected by multiple ransomware gangs, and regular users’ data was constantly on hackers’ radar. Marijus Briedis, chief technical officer of NordVPN, comments: “Next year will not be any easier when it comes to...

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Cyber security insurance is crucial for risk mitigation

Cyber security insurance is crucial for risk mitigation

According to a recent Accenture study South Africa reportedly experiences 577 malware attacks per hour resulting in losses of R2,2-billion per year. Cybercrime is undoubtedly one of the most serious risks that businesses today face. In the past, many businesses,...

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Kaspersky warns of top cyberthreats in South Africa

Kaspersky warns of top cyberthreats in South Africa

Kaspersky research has found that from January to April this year, ransomware attacks in South Africa have doubled over the comparative period of 2021. In fact, ransomware has become the most significant cyberthreat of our time. As the name suggests, ransomware locks...

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Why insurance premium increases are unavoidable

Why insurance premium increases are unavoidable

Santam’s executive head of commercial and personal intermediated business, Andrew Coutts, has issued a communication to intermediaries setting out the factors that have made premium increases unavoidable. Coutts said households and businesses have experienced immense...

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Moving from reactive to proactive in the face of cyber war

Moving from reactive to proactive in the face of cyber war

Every CISO and IT security professional knows that cyber risks are exploding, with cybercrime syndicates becoming increasingly aggressive and sophisticated. To their credit, security execs are putting out fires and putting mitigation measures in place as fast as they...

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Ransomware is a business resilience issue, not an IT problem

Ransomware is a business resilience issue, not an IT problem

Ransomware has increased exponentially over the course of the last few years, and this trajectory is set to continue. Data breaches and other security events pose significant risks to businesses because lost data represents not only lost business, but also compliance...

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Top cybersecurity predictions for the years ahead

Top cybersecurity predictions for the years ahead

Executive performance evaluations will be increasingly linked to ability to manage cyber risk; almost one-third of nations will regulate ransomware response within the next three years; and security platform consolidation will help organisations thrive in hostile...

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The role of human error in cybersecurity breach

The role of human error in cybersecurity breach

According to a study by IBM, 95% of cyber security breaches result from human error. Even though humans make mistakes, this mistake is so overwhelming in cybersecurity that 19 out of 20 cyber breaches result from human error. Another report indicated that human error...

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