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Evolving threat landscape highlights importance of cyber insurance

06 June 2023

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 suffer a harmful data breach at any given time.

Get prepped for winter: what to do if your geyser bursts

06 June 2023

Cold, and sometimes wet South African winters come with their fair share of household issues; many of them being water related. One of the most notorious of these issues are burst geysers – a problem that can cause major inconvenience and potential property damage.

Proactivity and preparedness key to prepare for possible grid failure

05 June 2023

Loadshedding – a measure implemented by Eskom to address mounting pressures on the national electricity grid, has been a South African reality since 2007. The past few years have, however, seen a dramatic upsurge in the severity of scheduled blackouts as Eskom attempts to deal with multiple infrastructural problems as well as theft and vandalism.

SA insurers’ grid collapse dilemma

01 June 2023

The South African non-life insurance market is abuzz with news and opinions following the introduction by insurers of so-called grid failure exclusions during the first half of 2023. Most, if not all, of the country’s main insurers had already taken steps to limit their exposures to electricity supply related claims by introducing higher excesses or outright exclusions on power surge claims over 2022; but their latest intervention is of far greater consequence. On advice from, or perhaps at the behest of, their reinsurance partners they have decided to introduce national grid failure exclusions to commercial and personal lines contracts.

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The strongest deterrent against FSP compliance missteps is or should be:

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A criminal conviction Debarment Fine or penalty Any of the above can work

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