Cybercrime costs are projected to reach $14 trillion globally in 2028, according to Munich Re's latest Cyber Insurance: Risks and Trends report.
"In response to powerful geopolitical, technological and economic stressors, companies need to focus equally strongly on resilience and protection. Operating in the digital era involves threats that no business leader can afford to neglect: It is long overdue that the long heightened risk awareness translates into adequate C-level action," Munich Re Board of Management member Stefan Golling, said in the report.
There are four main drivers of cyber loss in 2026, according to Munich Re: ransomware, data breaches, business email compromise (BEC) and distributed denial of service (DDoS).
The number of reported ransomware attacks increased by nearly 50% in 2025, and it remains the top driver of cyber insurance claims. The report explains that these operations are often very profitable for the attackers, with their actions further exacerbated by offerings that help expand their criminal operations, like ransomware syndicates that offer subscriptions with models for encrypted money laundering and marketing and services that offer "customer support" to assist the efforts of initial access brokers. They note that while law enforcement actions have helped to dismantle ransom-as-a-service actors, new, smaller, harder-to-track entities have taken their place.
The major trends shaping the cyber threat landscape in 2026, according to Munich Re, include geopolitics, agentic AI, digital supply chains and physical AI/robotics.
These cyber threats touch every industry, but some are hotter targets than others. In the slideshow above, we'll look at the ten sectors Munich Re reports were most affected by cyberattacks in 2025.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.