Cyberattacks are part and parcel of the modern world in which we live. It’s unthinkable for business owners not to have some sort of digital and online presence, whether it’s online marketing and social media, or computers for administration, processing, and banking.
The king noticed that, with so many businesses and people connected to computers and the Internet, there was just far too much at risk. And what a good call that was! South Africa has the third highest number of cybercrime victims worldwide and loses around R2.2 billion a year to cyberattacks, according to the South African Banking Risk Information Centre (SABRIC).
So you see, it’s not a matter of ‘if’… It’s ‘when’ you could come under attack from cyber criminals. So, naturally, the king introduced cybersure!
Cybersure
In a nutshell, the king’s cybersure covers your business’ assets that you use to perform in this digital age. This means your fancy pants computer systems, software and data. You’re also protected against liability arising from the misuse of these assets. This comprehensive policy even (as it should) insures you against liability that arises from third party attacks on these assets.
More importantly, we work exclusively through business insurance brokers to help you get comprehensive, affordable cyber protection for your business.
The king’s cybersure package includes cover for:
- Cyber liability.
- Data breach expenses, including cover for the costs of hiring legal and forensic IT pros to help you recover your data.
- Damage to computer systems and data, for if you accidentally breach your clients’ privacy rights or send them a virus and are taken to court.
- Disruption following a cyberattack that brings your business to a halt and results in loss of income.
- Extra costs related to insured incidents, like specialist support check if a cyber threat is real.
- Financial loss and proving fraud, including cover for financial losses resulting from fraudulent inputs into insured computer systems which have led to dishonest transactions.
Why are we so obsessed with insurance?
Cybercrime is a real threat to South African businesses and can be devastating to your finances and reputation. That’s why we’re positively obsessed with investing in new ways to help all South Africans protect the things that they value.
It all started in 2012, with our revolutionary decreasing car insurance premiums. Noticing that it was the height of greed for car insurance premiums to be increased when the value of our cars depreciates, we took a stand and decreased premiums on a monthly basis.
And since then, we’ve gone on to introduce the multiple car discount (more cars covered = more discount on your premiums), our R1 insurance for a selection of expensive portable possessions (including bicycles and Apple watches), and of course, our truly flexible and affordable business insurance.
There’s just no stopping us. If we see a threat, we’ll create insurance for it. Case in point, our cybersure offering and decreasing car insurance premiums.
Meet the kingdom
With head offices in Waterkloof Glen, Pretoria, we’re reinsured by the world’s largest reinsurer, Munich RE. We’re a registered member of the South African Insurance Crime Bureau (SAICB) and are a privately held insurance company.
More importantly, (and interesting) to note is that our specialist teams are experts in the cyber and business insurance arenas. So, you’ll be on the receiving end of some pretty hotshot, knowledgeable support and royal service every step of the way.
If your business uses computers and has anything to do with the digital age (and let’s face it, whose business doesn’t), then cybersure is necessary. Get a quote today from our dedicated business insurance team.
Get in touch
Tel: 0860 21 00 00
King Price Insurance Company Limited is an authorised financial services provider | FSP no. 43862.
