Our Blog & Insurance Related News
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...
Cyber threats on the rise in these industries in South Africa
Cyber threats on the rise in South Africa Increasingly, companies are looking to adopt smart technologies to optimise production and decision-making in order to create businesses of the future. However, as reliance on autonomous and digital technology grows, so too...
Increase in claims and regulatory enquiries
Increase in insurance claims and regulatory enquires Incidences where executives and directors of businesses are being held liable for their role in issues have escalated and this has led to an increase in claims frequency and severity. Claims frequency and severity...
South Africa’s new driving demerit system faces delays
New demerit system faces delays The Department of Transport says that the rollout of the Adjudication of Road Traffic Offences (Aarto) Act is on target – however, there is less clarity around when the country’s new driving demerit system will be introduced. The Aarto...
Mobile devices and Cyber security: WhatsApp’s new policy shouldn’t be your only worry.
Why WhatsApp's new policy shouldn't be you're only worry. Just like many devices that are connected to the internet nowadays, mobile devices present a high risk of being negatively impacted by cyber threats. WhatsApp’s new privacy policy indicated that they will be...
Why your company should never pay the ransomware ransom
Why you should not Pay ransomware ransom. When ransomware hits your business and you watch helplessly as your data begins to encrypt, you may feel the urge to cough up and pay the ransom. This practice isn’t uncommon as Kaspersky reported earlier this...
Digital trends in the insurance industry
Insurance digital trends The Covid-19 pandemic has ushered in ample opportunities by accelerating the digital transition of tasks that were once considered mundane. In recognition of the importance of this, almost all players in the insurance sector are...
The average ransomware attack costs a South African company over R6.4 million
Ransomeware attacks growing vey costly for South African companies Ever since the global pandemic hit a little over a year ago, remote working has led to a sharp increase in cybercrime as those working from home are seen as easier targets. Interestingly,...
5 Things to Do After a Ransomware Attack
5 Key Things to do after a Ransomware Attack In South Africa, 42% of ransomware victims pay the ransom to restore access to their data. Yet for 19% of those, paying the ransom did not guarantee the return of stolen data. However, as public awareness of...
Why data backups are in the spotlight in 2021
Data backups are the spotlight of 2021 In light of the growing volume of cyberattacks - especially since the start of the Covid-19 pandemic - it has never been more important to ensure business continuity and recovery in the event of a disruption....
62% of employees enjoyed working from home
Employees are enjoying working from home As parts of the world open up and things go back to ’normal’ about 62 per cent of employees said working remotely makes them happier, according to a new survey on Friday. The Forrester study commissioned by...
Insurers brace for fresh wave of regulatory reforms in 2021
Insurers must brace for fresh wave of regulations in 2021 Non-life insurers will have to stay on their toes throughout 2021. Hard on the heels of the Covid-19 business interruption judgments that caught some insurers off guard in 2020, a raft of new regulatory...
Is your business ready to recover from a ransomware attack in 2021?
Can your business recover from a cyber attack? Cybercrime is a multi-billion dollar international industry and is not going away. Ransomware has taken centre stage, with large and highly publicised attacks costing global enterprises significant sums and even...