Cyber threats, exposures and insurance
04 April 2016
One of the main concerns for South African businesses is dealing with cyber threats. While loss or harm caused by cyber incidents is not entirely new, these incidents have become more common in recent years due to the rapid advances in technology and the changes in many business models. By way of an example, machines are programmed to operate using technology and businesses trade on-line. The question which arises is how businesses respond to prevent or minimise their exposure to cyber threats? Businesses are well advised to put internal measures in place to ensure that their technology is sufficiently safeguarded and their employees are well trained. To mitigate against these risks, externally, insurance is available.