What Cyber Attack Trends to Expect in 2022

Cyber attacks are a growing threat for businesses and individuals as criminals aim to steal, destroy, or manipulate data. While advances in technology have improved efficiency and ease of doing business for companies, it’s also created new opportunities for cybercriminals to thrive.

 In 2021, the average ransomware payment increased by 87 percent to $570,000 and by 2025, cybercrime is expected to cost the world $10.5 trillion a year

Regardless of a cybercriminal’s end game, which typically involves cyber warfare, financial gain, or swaying political opinion, cyber attacks are getting more sophisticated and prevalent. As the threat landscape evolves, companies must make cyber attack prevention and coverage a top priority. Read this article to see how current market conditions will impact cyber insurance and what other trends you can expect to see in 2022.

Cyber liability policies provide insured’s with the protection they need against data breaches, cyber extortion threats, and more. Jencap’s dedicated team of experts will equip your clients with the coverage they need to navigate unexpected cyber security threats and incidents. Contact us today to learn more.

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