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Every day hackers in the global village think up new ways to gain unauthorised access to a network somewhere. The motive is often financial but it could be purely malicious. Doing business in the modern world means you’re almost completely reliant on the technology around you and legislation in practically every country forces businesses to protect their customers’ confidential information.
In South Africa the Protection of Personal Information (POPI) Act imposes harsh penalties of up to R10 million on organisations that fail to prevent network breaches.
Cyber Crime Insurance ensures that your business is protected against the liabilities flowing from a breach.
Cover extends to the cost of public relations and marketing drives following a hack attack or breach of security. This ensures that the business can keep trading and meet its legal obligations to notify the public.
The cost of investigating a breach and defending the business against the imposition of fines – as well as possible civil litigation – can run into the millions. Cyber Crime insurance covers these expenses.
Want to talk more? Speak to one of our expert brokers on
0860 072 765