South Africa's cybersecurity insurance market is expanding rapidly, with over 4,200 policies issued by 2026. The average premium has increased to ZAR 45,000, reflecting rising cyber risks and digital transformation. The total market value has reached approximately USD 210 million, indicating strong growth and increased awareness among businesses about protecting digital assets.
Despite growth, only 38% of businesses have cybersecurity coverage, highlighting a significant gap in risk management. The average breach cost remains high at USD 75,000 per incident, emphasizing the importance of robust cybersecurity measures. Continued investment in digital security and insurance will be vital for South African companies to mitigate evolving cyber threats effectively.