Our Blog & Insurance Related News
Financial services sector becomes vulnerable to ransomware
The financial sector is becoming vulnerable to ransomware. The financial services industry is an appealing target for cyber criminals today. Arguably, consumers' financial, banking, trading and superannuation information is some of the most important data held...
Personal liability cover, The underappreciated benefit of contents insurance.
personal liability cover and its purpose to you. When you buy car insurance, you know that you’re not just covering yourself against damage to or the theft of your own vehicle – you’re also protecting yourself from spending a lifetime repaying the damage...
Employees working from home? How to guard against cyberattacks
Implementing measures to prevent a cyberattack from happening in the first place should be a top priority for companies. As the coronavirus forces more people globally to work from home, we are becoming increasingly reliant on technology to live, work and play....
In a market flooded by risk, brokers can help insureds ‘sink or swim’
Natural catastrophes might be growing in scale and frequency, but the intensification of these risks hasn’t resulted in a parallel increase in either risk mitigation or the purchase of insurance solutions by individuals and businesses to help prevent future financial...
What’s the rub on cleaning and disinfection?
One of the changes borne out of the COVID-19 pandemic is increased mindfulness about cleanliness and sanitation to help stem the spread of the disease. With most people having become neat freaks over the past few months, businesses make sure to keep their premises...
Experian downplays data breach
Experian South Africa has downplayed a data breach, in which it handed over the personal information of as many as 24-million South Africans and 793,749 business entities to a suspected fraudster, as an "isolated incident". The consumer credit reporting company...
South African companies urges to take data protection more seriously after Experian Breach
A fraudster was given access to the personal data of 24 million South Africans and almost 800,000 businesses were exposed. JOHANNESBURG - South African companies have been called on to take the protection of personal information seriously after a major data...
4 top post-lockdown vehicle safety tips
As the lockdown eases, more South Africans are commuting to work, running errands and figuring out their new normal. This means more cars on the roads exposed to everyday risks, such as road accidents and theft. Attie Blaauw, Head of Personal Lines Underwriting...
A perfect storm for fraudulent claims
History has proven that times of economic crisis traditionally see a huge increase in insurance fraud across most lines of business, and with COVID-19 impacting lives on a level not seen in living memory, fraudsters will be looking for new ways to cash in. ...
Balancing the risks and opportunities of technological innovation
Insurance Business recently released its annual insurtech report which highlighted that, while the insurance industry has long been considered behind the curve when it comes to technological innovations, it is making up this gap with impressive speed. A recent report...
Beyond the virus: new risks emerge as world changes
Coronavirus upheavals may have turned the world upside down in the past few months but Swiss Re’s Sonar report finds new technologies and the shift toward lower-carbon solutions remain key drivers of emerging risks. “At the beginning of the year, the political...
South Africa’s courts charged with untangling the business interruption riddle
The highly charged question of whether business interruption (BI) insurance will pay-out due to a national lockdown has spilled over from the Western Cape High Court into the court of public opinion. On 26 June 2020, the court ruled in the matter between Café...
Global Insurance Research Points to Need for Digital Transformation
The COVID-19 pandemic is emerging as a powerful driver for digital transformation in the insurance industry, with a shift from an intermediated world to one of faceless onboarding and servicing. New research from TransUnion on the performance of insurers shows...
South Africa’s data privacy law finally nears full implementation
The Protection of Personal Information Act (POPI), which has been on the cards since 2014, is nearing full implementation following the President’s 22 June 2020 announcement of the commencement of additional sections of the act. According to the Presidency, the act...
Cybercrime laws are long overdue in SA
They have never been needed as much as now, with many people working from home. The process of finalising legislation dealing with cybercrime has been long and tortuous but it has never been needed as much as now when more and more people work remotely from...
How risk management can disable corruption within organisations
As professionals we should avoid falling prey to corruption, writes Mpho Modisane, IRMSA risk intelligence committee member. Corruption robs both the public and private sector to the extent of eroding our individual professional brand and that of our companies...
Corporate Voices Get Behind ‘Black Lives Matter’ Cause
Major companies are often wary of conflict, especially in a polarized time. But some are now taking a stand on racial injustice and police violence. As tensions flared around the country after George Floyd’s death under a policeman’s knee, protesters received...
Association backs intermediaries to navigate the COVID-19 storm
The Financial Intermediaries Association of Southern Africa (FIA) has its finger on the pulse of the country’s financial advice and insurance broking community. We spoke to two members of the FIA Board to find out what the FIA was doing to guide its members during...
How will the coronavirus impact the business travel market?
The continuing coronavirus (COVID-19) lockdown means business travel remains at a standstill, and the long-term implications this pandemic may have on the insurance offering that employers provide once travel resumes is a burgeoning consideration. New research from...
Coronavirus: Fighting the rise in cyber criminals from the home office
With many people working remotely because of the coronavirus outbreak, the number of cyber incidents is increasing as hackers, scammers and spammers look to exploit vulnerabilities in an attempt to steal valuable information. In response, AGCS experts highlight a...