Types of cyber insurance

Santam’s bespoke cyber insurance offers innovative, practical solutions for small to medium-sized enterprises with up to 100 employees and an annual turnover of up to N$20 million.

First-party expenses

Once a breach occurs, there are a range of expenses to get the business back on track. These expenses cover costs to restore data and appoint specialists such as investigators, forensic auditors and loss adjusters.

Business interruption

We will pay you the value of reduced net profit the business suffered during an interruption caused by a cyber incident.

Reputation management expenses

The reputation of a business can be fragile. This covers the costs of a public relations consultant or related advertising expenses to repair any reputational or material brand damage.

Insurable administrative fines and penalties imposed by supervisory authority

This covers the legal defence costs as well as the amount of the fine or penalty itself.

Media liability

With the use of websites, social media and electronic media, there is always a risk of copyright or defamation allegations. This covers any resulting legal defence costs, legal liability, public relations costs, and claims expenses.

Theft of funds

When a network security breach leads to theft of funds, this covers you for any money illegally taken from you.

Notification expenses

When breaches happen, there are costs to notify affected parties and monitor any possible identity theft. The policy covers the related expenses incurred.

Cyber extortion and cybercrime

Should your data or system be locked, or you are threatened by cyber extortionists, we cover the cost of the investigation and the payment of monies (where legally permissible).