A flood seems impossible but a hundred businesses in Bedfordview and Centurion would argue otherwise, a major lightning storm or fire burning the server out is also possible but not as likely as simple theft. The most common now, however, is malware infecting your network (and data) leading to a ransom being demanded to unencrypt your files…
Do you have emergency recovery plans in place that you are confident will cover you in any of the above scenarios? Do you understand that the Protection of Personal Information Act (POPIA) makes this mandatory?