Cyber Insurance Predictions to Brace for in 2022

No company is immune to cyber-attacks but you can always protect your company’s data against cyber attacks with a cyber insurance policy. Cyber attacks are inevitable and in 2021 way too many cyber-attackstook place across the globe. Here are some of the cyber security predictions that the companies have to brace for in 2022.

Read more
Get ₹5 Cr Cover starting at ₹4,60,000*

Get right expert advice

Hassle free policy

Speedy Claims

Get Free Access to Report: Cyber Breaches in Industry

Fast-track your search with instant quotes from top insurers

Don't Gamble with Cybersecurity - Insure Your Business Now!

Step 1/2

Don't Gamble with Cybersecurity - Insure Your Business Now!

secure-icon We don't spam
Are you buying the policy for?
Get Updates on WhatsApp
Check Plans for Free

Don't Gamble with Cybersecurity - Insure Your Business Now!

Step 2/2
Fast-track your search with instant quotes from top insurers
Expert advice

Buy right

Instant policy

Quick & Hassle free

Dedicated team

Speedy Claims

Get Free Access to Report: Cyber Breaches in Industry

More Digitalization Means More Hacking

Everything is getting digital. Almost all companies are shifting to the digital medium to make things easier and faster for their customers and themselves. However, the more companies get digital, the more options these hackers would have and the more hacks will take place.

To keep the data of your company safe, it is suggested to install the best anti-malware and to keep yourself extra protected, purchase cyber insurance for any unforeseen cyber attack as it will provide coverage for the specified inclusions in the policy documents.

Ransomware: Government Lending Hand

2021 made us realize that every company is at risk of a ransomware attack. In 2022 the governments will come together and start cooperating to find and prosecute the ransomware groups. The hacking operations against these hackers will also keep on happening. This will alter the behavior of hackers that in turn will decrease their options on whom to target.

Increment In Insurance Premium

As cyber attacks increase day by day, insurance companies have to enhance their cyber insurance policies according to the latest cyber threats. When the insurance company enhances their insurance plan coverage, it tends to increase the insurance premium as well.

Insurance companies have to keep on evolving and expect to see offers and discounts that are linked directly to the integrating policies. This will increase the number of platforms to help mid-size companies to afford the policies.

Open Banking Is Vulnerable

Financial organizations such as banks have started providing banking services through mobile applications to make their customer experience better and easier. With better customer service, these apps also bring security concerns.

In recent years, API security has been a growing issue, It has been predicted that API abuses will double in the coming two years. Hence it can be expected that there will be an increase in fintech-related account abuse.

Attacks On Shipping & Transportation

It is expected that the 2021 supply chain crisis will get severe in the year 2022. Transportation companies are struggling due to the covid-19 related challenges whereas the hackers take it as an opportunity against shipping and transportation companies. As per Naval Dome, who is an Israeli cybersecurity specialist, there has been an increment of 400% in the cyberattacks on maritime vessels between February 2020 to June 2020.

Hackers For Hire

The gig economy is enhancing the contract services in various legitimate industries and the hackers are also increasingly getting active. Hackers for hire is becoming a prime security threat, it shows no sign of decrement even after the success of ransomware attacks. In 2022, it is expected to more mercenary-driven cyber attacks and more creative strategies for hiring contract hackers like a Russian group that made a fake company to hire IT specialists.

End of Telcos & Identification Verification

Hackers have entered the Worldwide Cell Tools Identification (IMEI) numbers, so it is expected to see a rise in sim swap assaults. This is also expected that the risk actors will get access to the two-factor authentication by hacking one time passwords by utilizing the victim’s cellphone quantity.


These were some of the cyber security predictions for 2022 that companies should look out for. It is better to be ready than sorry later. Even though, none of the companies are immune to these cyber attacks so purchasing a cyber insurance policy as a back up option is a smart yet important move.

Written By: PolicyBazaar - Updated: 18 January 2023
Cyber Insurance Companies

Now help your friend get Business Insurance

Your referral is greatly appreciated!

Our team will reach out to your friend soon to help with their business insurance requirements.

Cyber Insurance News

Payment Gateway Company Reports Massive ₹16,180 Crore Cyber Theft
Payment Gateway Company Reports Massive ₹16,180 Crore Cyber Theft
In a startling revelation, the Thane Police have exposed a massive cyber heist, with cybercriminals pilfering an astonishing ₹16,180 crore. This...Read more
Cybercriminals Target Former Union Minister Dayanidhi Maran's Savings...
Cybercriminals Target Former Union Minister Dayanidhi Maran's Savings...
In a concerning development, cybercriminals managed to siphon off ₹99,999 from the personal savings account of Dayanidhi Maran, the former Union...Read more
Mumbai Police Nab Four Cyber Fraudsters in Extensive 22-Day Operation
Mumbai Police Nab Four Cyber Fraudsters in Extensive 22-Day Operation
In a 22-day operation spanning four states, including Uttar Pradesh, Rajasthan, Delhi and Madhya Pradesh, a Mumbai Police task force comprising seven...Read more
India Grapples with Mounting Cybersecurity Risks, According to Palo...
India Grapples with Mounting Cybersecurity Risks, According to Palo...
India is confronting a significant threat of cyberattacks aimed at its critical infrastructure, public sector, and essential services, as per a report...Read more
Pune-Based Engineering Supplies Firm Loses Over 22 Lakh in Cyber Scam
Pune-Based Engineering Supplies Firm Loses Over 22 Lakh in Cyber Scam
Pune City police uncovered a suspected 'man-in-the-middle' cyber attack that cost a Pune-based engineering supplies firm more than 24,000 Euros...Read more
Cyber Insurance Articles
As per the Indian Computer Emergency Response Team, 12.67 lakh cyber-attacks were registered by November 2022...Read more
21 Mar 2023 by Policybazaar 10817 Views
We live in the digital era. Now, almost everything is possible online as every other organization is going digital...Read more
12 Apr 2022 by Policybazaar 11097 Views
Every shop owner must put in extra efforts to make their retail store as safe as possible. To create a secure...Read more
29 Apr 2022 by Policybazaar 5873 Views
The cyber risks have increased after the outbreak of Covid-19. One of the main reasons behind the increment in...Read more
31 Mar 2022 by Policybazaar 4385 Views
In this ever-evolving and the technologically-driven world, cyber-attacks have been increasingly common and a...Read more
29 Nov 2022 by Policybazaar 1385 Views
Cybersecurity vigilance is crucial to safeguard against phishing...Read more
15 Mar 2024 by Policybazaar 165 Views
In a fast-paced business environment where every minute counts...Read more
13 Mar 2024 by Policybazaar 242 Views
Ransomware risks are on the rise, posing a significant threat to...Read more
13 Mar 2024 by Policybazaar 218 Views
The rise of smart automobiles has ushered in a realm of...Read more
27 Dec 2023 by Policybazaar 401 Views
Wearable technology has revolutionized healthcare, offering a...Read more
15 Dec 2023 by Policybazaar 306 Views
Policybazaar for Business - Cyber Insurance - Customer Reviews
View all
Based on 47 reviews
out of 5
Based on 47 reviews
12 users
34 users
1 users
0 users
0 users
4.3 October 11, 2022
Aarti Singh
Knowledegable Team
The representatives at PolicyBazaar were knowledgeable, patient and genuinely committed to helping me find the best insurance policy for my requirements. They took the time to answer all my questions and provide valuable guidance, ensuring that I had a thorough understanding of the coverage details and terms. THANKS.
4.3 October 06, 2022
Quick And Hassle Free
After seeing a rise in cyber attacks in many of the companies, i decided to purchase a cyber insurance policy for my start up. I went on the Policy Bazaar website and learned about the coverage in detail and purchased it from their website only. It was quick and hassle-free purchase.
4.5 October 04, 2022
Paperless Process
We bought the contractual liability insurance from policybazaar and received the best overall package. The process was paperless as we applied for insurance online and the support was amazing.
4.5 October 03, 2022
Extensive Coverage
We thoroughly checked all the benefits and features and decided to buy a contractual liability policy from Policybazaar. It provides all the necessary features to safeguard our business against any loss.
4.5 October 02, 2022
Easy To Buy
It was easy to buy insurance from Policybazaar and customer support was also amazing to clear all the doubts. Contractual liability insurance is essential for my business and I could not get a better deal than this.
4.5 October 01, 2022
Easy Plan Comparision
An ideal Contractual Liability Insurance policy purchased to protect our business that we ecounter in our everyday operations. Policybazaar offers a platform to compare multiple plans.
4.5 September 30, 2022
No Broker And Paper Work
Great experience at Policybazaar. We did not know that buying Contractual Liability Insurance could be that easy. Also there is no broker and paperwork.
4.8 September 29, 2022
Perfect Insurance Coverage
I purchased Contractual Liability Insurance from Policybazaar and the coverage they provided is perfect to keep my hardware business safe various unforeseen instances.
New Delhi
4.5 March 18, 2022
Cloud Storage Cover
I wanted to purchase a cyber insurance policy could provide coverage for the data stored in cloud network. I went on the Policybazaar website and look up for plans that would provide me with this coverage. I compared different plans and in a matter of minutes i found the right cyber insurance plan that would fit my requirement.
4.5 March 17, 2022
Good User Interface
I was looking for a cyber insurance policy online. After looking for the insurance plan online I landed on the Policybazaar website. Trust me, the user interface of the website is so good that i was able to locate the cyber insurance plan and purchase it in not more than 10 minutes. Thanks Policybazaar.