22 Cyber Statistics for 2022

Cybercrime was at an all-time high last year, and experts in the Information Technology field predict more cyber-attacks this year. Organizations rely on technology to conduct business, and cybercrime is one of the most significant risks for which businesses should be prepared. A Cyber Insurance Policy will help ensure you are prepared. These staggering statistics give cause to consider cyber coverage to protect your organization.

  1. In 2021, cyber-attacks increased 50% year-over-year, with organizations facing 925 cyber-attacks per week globally. (1)
  2. On average, 30,000 websites are hacked every day. (2
  3. 98% of US Executives say their organization experienced one or more cyber incidents in 2021, according to Deloitte. (3)
  4. Around 300,000 new pieces of malware are created daily to target individuals and organizations. (4)
  5. Phishing attacks are responsible for more than 80% of reported security incidents. (5)
  6. According to Verizon’s 2021 Data Breach Investigations Report, 85% of breaches involved the human element. (6)
  7. According to IBM’s Cost of a Data Breach Report, a breach caused due to phishing costs organizations an average of US$4.65 million per company last year. (7)
  8. Data breach costs, in general, rose from US$3.86 million to US$4.24 million per company, the highest average total cost in the 17-year history of this report. (8)
  9. More than 90% of cyber-attacks infiltrate an organization via email. (9)
  10. According to the IBM report, business interruption contributed to 38% of Data Breach Costs. (10)
  11. Business Email Compromise was the most expensive data breach vector at US$5.01 Million. (11)
  12. The U.S. Department of Homeland Security claims that 50% to 70% of ransomware attacks are aimed at small and medium-sized companies. (12)
  13. SonicWall recorded a 148% increase in attacks involving ransomware in 2021. (13)
  14. Healthcare was the top industry in average for total costs of a data breach last year. (14)
  15. Security breaches cost the healthcare industry $6 trillion in 2020. (15)
  16. 98% of cybercrime relies on social engineering. (16)
  17. The Clark School at the University of Maryland conducted a study that found that a computer is attacked by cybercriminals every 39 seconds. (17)
  18. 279 days is the average lifecycle of a breach. In other words, 279 days is the amount of time it takes to contain a breach. (18)
  19. The average ransom paid by mid-sized organizations is $170,404. (19)
  1. 56% of organizations do not have a cyber incident response plan. And only 32% of the remaining 44% think that their plan is effective. (20)
  1. 7,000 people reported losses of more than $80 million on cryptocurrency scams, according to Consumer Protection Data. (21)
  1. Customer personally identifiable information (PII) was the most common type of record lost or stolen at 44%. (22)

Palomar offers comprehensive Cyber Insurance Solutions that provide tailored coverage for cyber-related events. Email info@palomarins.com or call 800-489-0105 to learn more about our cyber solutions.

Note: Data is from sources cited, and every effort has been made to ensure that the information is accurate at the time of publishing.

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