King Price releases corporate cyber insurance product, cybersure


Cybercrime is real and it is on the increase. In South Africa (SA), 84% of adults online have already fallen prey to cybercriminals, of which 74% experienced cybercrime in the last year. Furthermore, South Africa  ranks in the top 10 on the FBI cybercrime predator list. These flashing warning signs were the impetus for the launch of cybersure, King Price’s latest offering of cyber insurance for businesses. 

Read more: Aon’s survey shows cybercrime on the increase

“Cyber insurance is non-negotiable,” states Wynand van Vuuren, spokesperson at King Price. Cybersure covers computer systems, software and data, and also protects against liability that may arise from cyberattacks on these assets. Moreover, cybersure includes cover for data breach expenses, damage to computer systems and associated loss of income. A personal cyber insurance product is to follow in 2018, Van Vuuren hints. 

You think this is a game?

To stimulate the cyber debate among South Africans, King Price has developed an online game linked to a SA-first competition, in which gamers stand the chance to win R1 million in bitcoin. “This is the largest bitcoin prize in SA so far,’ says van Vuuren. “We’re seeing it as an investment into educating South Africans on the very real and ever-increasing need for cyber security.”

Consumers can test their gaming skills and cyber safety know-how at from 8 October until 28 February 2018. Everyone who plays all 3 levels of the game will be entered into the random draw to be chosen as a finalist, and eight finalists will play a live knock-out round to determine the three final winners. You don’t have to be seriously skilled at gaming but some tech-savviness and a sense of humour is called for.