Tag: OperationalResilience

Backup, disaster recovery, and operational resilience are often used interchangeably in boardroom conversations. However, they are three distinct disciplines. Each carries its own risk if organisations leave it unaddressed. Organisations that conflate the three are frequently the ones caught out when ransomware strikes.

South Africa's data centre sector is expanding rapidly. New investment is creating opportunities for economic growth, digital innovation and regional connectivity. It is also positioning the country as a strategic hub for Africa's digital economy. The country now hosts nearly half of Africa's data centre capacity. The local market is projected to grow from US$2.16 billion in 2024 to US$3.40 billion by 2030.

I have spent my career watching South African Small and Medium Enterprise (SME) owners achieve extraordinary results with limited resources. Their resilience is well known. However, this does not remove the difficult path that entrepreneurship often entails. According to our recent Emotional Tax Return report, 95% of South African SME owners make personal sacrifices to sustain their businesses.

So, what do most comprehensive cyber insurance policies usually cover? First, they cover the costs of investigating and responding to a breach. Forensic teams do not work for free. You will need them to determine what happened, how severe the breach is and whether the attacker left evidence behind. Understanding these response costs is essential when assessing cyber insurance limits.

Since the release of the “Principles for effective risk data aggregation and risk reporting” regulation (commonly known as BCBS 239) in January 2013 by the Basel Committee on Banking Supervision (BCBS), the regulation evolved significantly, transitioning from a regulatory requirement into a strategic framework for improving risk data aggregation and reporting across the banking sector.