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As South African businesses become increasingly reliant on digital platforms, the risks associated with cybercrime continue to grow at an alarming rate. According to a recent survey by the Council for Scientific and Industrial Research, 88% of local businesses suffered at least one security breach in the past year[1]. Even more concerning is that 90% of affected organisations were targeted multiple times.
When most business owners think about insurance for their ventures, they automatically think about cover for their physical assets, such as buildings, stock, machinery or vehicles.
A staggering 3 000% surge in global Strike, Riot and Civil Commotion (SRCC) claims over the past two decades, coupled with South Africa's construction industry decline since 2016, is forcing a radical transformation in engineering insurance.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?