How Cyber Safe Is Your Company?
Protect your business from technology and data loss risks with CC&A’s Cyber Liability Insurance
Economic Crime is on the increase globally, and South Africa is not immune to this insidious threat. In its most recent South African Crime Survey, Price Waterhouse Coopers released these alarming statistics:
- Cybercrime has increased by 23% since 2014 and is now the fourth most reported type of economic crime in South Africa.
- 32% of South African businesses reported being victims of cybercrime in 2016.
- Six out of ten CEOs ranked cyber threats, and the speed of technological change, as the top threats to business growth.
- Financial losses are the most damaging impact of a cyber breach, with 3% of surveyed South African companies losing over $100 million.
- 14% of those surveyed didn’t even know how much they’d lost, even though they knew they were victims of cyber crime.
Still Think You Don’t Need Cyber Liability Insurance?
Cyber policies provide direct loss and liability protection for any risks associated with your business’ use of data and technology. In the event of a privacy or network security breach, cyber liability insurance can provide cover for:
- Loss of earnings from system downtime
- The cost of forensic investigators, attorneys and security specialists.
- Defence and settlement of third party liability claims for compromised data, or harm to third party data systems.
- Expenses for the investigation and potential termination of cyber extortion threats.
- Public relations or marketing campaigns to limit or repair damage to company reputation.
“CC&A really back their clients”
“(Our claim) was quite a job, and I know that the CC&A team have put in a great deal of effort. It reminds us why we are CC&A clients.”
Insurance Brokers You Can Trust
CC&A was established in 1969 and our current team brings almost 200 years of combined industry experience to the table. We have an industry-leading client retention rate and are admired by our peers for our value system, integrity and professionalism.
Lessen Your Liability – Call Us Today
At CC&A, we offer speciality cyber insurance products that are designed to help bridge gaps in traditional lines, such as property and general liability. Cyber policies can provide direct loss and liability protection for risks associated with the use of technology and data, and our policies can also be expanded to include business interruption. Get in touch today.
This information should not be considered legal or financial advice and is for information purposes only. You should consult with a professional financial advisor to determine what may be best for your individual needs.