Our Blog & Insurance Related News
How to be more resilient to ransomware threats
Impacts vary, but in many cases, ransomware disrupts businesses for significant periods or even forces them to suspend operations or close. By Clive Brindley, security lead at Accenture in Africa A growing population of highly capable cyber extortionists is developing...
Surge in car jamming incidents during peak shopping periods
Data from vehicle tracking and recovery firm Netstar shows an uptick in remote jamming of vehicle immobilisers in the run-up to Black Friday and peak shopping periods. The device used to jam the remote signals is often a customised version of a 400MHz gate or garage...
Trends 2022: Supply chain cyber-attacks on the rise as ransomware attacks break records
In the last six months, an organisation in South Africa was attacked on average 1737 times per week. This is more than double the global average (819) of attacks per organisation per week, according to Check Point Threat Intelligence Report. So, what can we expect...
31.5 million threats target SA users
The number of cyber threats recorded by the Kaspersky Security Network in the first half of 2021 that targeted SA users reached 31.5 million. Kenya was in a similar position with 32.8 million cyber threats recorded, while Nigeria trailed behind with 1.67 million. All...
Costs of data breaches in SA up by 50%
The latest IBM Security Cost of a Data Breach Report indicates that the global average cost of a data breach has risen to $4.24 million in 2021, a 10% increase overall and the largest percentage increase in the 17-year history of the report. This is according to...
Is cyber insurance a worthwhile investment?
The cyber insurance market is rapidly maturing and there are many reasons for this. Companies are increasingly leveraging technology to expand or streamline their businesses, remote work is seeing wide-scale adoption, cybercrime is inflicting trillions of dollars in...
Bracing for cyber cover in today’s data era
In today’s always-on, always-connected economy, businesses are under pressure to enhance their cybersecurity strategy and prove to their customers that data protection is critical to their engagement strategy. By Michel Nader, senior regional director: data protection...
Companies need to strengthen cyber controls to counter ransomware pandemic
During the Covid-19 crisis, another outbreak has happened in cyberspace: a digital pandemic driven by ransomware. Malware attacks that encrypt company data and systems and demand a ransom payment for release are surging globally. The increasing frequency and severity...
All cyber insurance claims made by Airmic members relate to ransomware
Of the Airmic members who buy cyber insurance and have had a claim, all claims relate to a ransomware attack and all claims have been met, according to the latest Pulse Survey on insurance market conditions from UK risk management association Airmic. Other key...
Santam : How do brokers outperform direct insurers in this new risk-rife world?
How do brokers outperform direct insurers in this new risk-rife world? A global pandemic. A worldwide upward trend of natural disasters. Political factionalism and unrest. Risks for individuals and businesses are increasing by the day. In this climate, clients...
You’re safe from ransomware – if you have R6.4bn lying around
Ransomware attacks have massively increased since the start of lockdown. Here’s what you need to know to protect your company. When hackers targeted Transnet’s computer systems in late July this year, logistics at major ports ground to a near-halt for the second time...
Ransomware prevention tips for SMEs: The threat from within
Staff play an important role in the risk profile of all companies. The frequency and cost of insider threats have increased dramatically over two years, regardless of whether the source is a careless or negligent employee or contractor, a criminal or malicious...
Cyberhackers outscore losses from weather-related disasters five to one
There was an opportunity for insurers and intermediaries to sell more cyber insurance as a result of the shift in consumer behaviour because of the pandemic, Andrew Coutts, the head of intermediated business at Santam, said this week at the launch of the 2021 Santam...
Malware attacks in Africa reach 85 million in 6 months
The increasing dangers of malware attacks. According to research done by Kasp, malware is rife across Africa with various countries exhibiting strong growth in all malware types in the first half of 2021 when compared to the same period last year. This is a 5%...
Always opt for effective incident response best practices
If in any doubt as to the necessity of an incident response (IR) plan, consider this statisticfrom IDC research that reveals that 80% of consumers would take their business elsewhere if directly affected by a data breach. If a security breach is not properly handled...
How To Not Let Cyberattacks Get The Better Of Your Small Business
Don't let cyber attacks affect your small business Small businesses are the heart and soul of the economy – each offering job opportunities, growing various industries, and enabling ambitious people to live their best lives doing what they love. Yet, with the...
5 ways to ensure you are adequately insured at the right price
After over a year of lockdowns, many South Africans have vastly changed circumstances. Managing one’s finances and finding ways to cut unnecessary expenditure has never been more important. As National Savings month draws to a close, Santam shares tips on how...
The country is no stranger to cyberattacks.
The country is no stranger to cyberattacks, and after Transnet, state utilities such as Eskom, as well as mining and manufacturing companies, are the next possible targets. State-owned port and rail operator Transnet will feel the impact of the cyberattack it...
Cyber attacks: What is hybrid warfare and why is it such a threat?
Washington and Moscow are engaged in a war of words over a spate of ransomware attacks against organisations and businesses in the US and other countries. These increasingly sophisticated cyber-attacks represent a new type of warfare aimed at disorganising and even...
What I wish I knew about insurance when I was younger
Advice for younger adults about insurance Receiving your very first pay cheque as a young working professional can be a liberating yet daunting experience. Imagine the pride of buying your first car, a pair of name brand sneakers, a designer watch or the newest smart...