Aon South Africa, launched its 2023 Cyber Danger Survey for South Africa earlier this week offering insights on present tendencies in cyber threat governance practices being deployed by South African firms in numerous market segments.
“The survey affords commentary on the longer term path of cybersecurity, given the quickly evolving method of the danger, its options and legislative insurance policies, to supply forward-looking steering to companies from a South African perspective,” says Zamani Ngidi, Cyber Options Senior Consumer Supervisor and co-author of Aon’s 2023 Cyber Danger Survey.
The Survey Discovered That:
- 22% of respondents suffered a cyber incident previously 5 years.
- Moreover, 67% of members deploy a cyber threat administration device.
- Solely 50% of respondents have a board-level cyber champion.
- 72% of members buy cyber insurance coverage.
One of many key findings of Aon’s 2023 Cyber Danger Survey is that firms usually tend to ‘beef up’ their cybersecurity following a cyber incident. “We query whether or not firms which have suffered a cyber-attack would have higher cyber threat administration practices in place, than those that didn’t endure an assault.
The findings within the survey present that of the 22% of respondents which have suffered a cyber assault, all subsequently have the total stack of cyber-related covers and instruments in place versus their counterparts, with lower than 50% uptake on mitigation controls,” says Zamani.
Corporations Avoiding Excessive Prices of Proactive Danger Administration
The survey additionally discovered that solely 43% of South African firms with income of lower than R100m deploy a cyber threat administration device, versus 80% of firms with income of over R100m.
“It factors to 2 potential situations, the place smaller firms are discovering the price of proactive threat administration too excessive, or it may level to a notion that the danger is simply reserved for firms with a better income bracket,” Zamani explains.
“In gentle of those findings, the survey unpacks the several types of covers and instruments {that a} South African enterprise ought to think about, exploring the interconnected nature of cyber threat and its influence on a enterprise, regardless of the scale or income,” Zamani provides.
