In 2024, insurers paid out at least £197m in cyber claims. This was more than triple the amount paid in the previous year.
Clearly, cybercrime is a growing risk for businesses. In this post, we’ll look at some of the top cyber risks that businesses will have to deal with in 2026, and beyond.
Want to discuss your cyber security risks? We have a team of experts on hand to help. Call us on 0208 290 9080 or email us at cyber@anthonyjones.com.
How is Artificial Intelligence Being Used for Cybercrime?
Cybersecurity experts predict that artificial intelligence (AI) threats will soon account for over 50% of all cyberattacks.
Here are some of the ways that cybercriminals are using AI to target businesses across the world:
- Autonomous Malware: Cybercriminals can train an AI system to rapidly and autonomously target businesses. These AI systems can learn and adapt, and they can work much, much faster than a human cybercriminal. And cybercriminals don’t have to be AI experts to use these systems, either. They may be able to purchase pre-existing systems and immediately set them to work targeting businesses.
- Deepfakes: Cybercriminals can use AI to create fake yet convincing images, voices, and videos. These could be used to bypass cybersecurity systems, potentially with a “social engineering” attack: An AI “acting” as a manager or an IT support worker could convince a worker to share sensitive login details, allowing the cybercriminal to access your systems.
- Prompt Injection: Cybercriminals could also train an AI system to infiltrate your system, through rapidly adapting to and bypassing protocols, and through following certain hidden commands to gain entry.
AI might present a number of new cybersecurity risks. But businesses will still have to protect themselves against more established cybersecurity risks. And as we’ve seen, AI means it’s easier than ever for cybercriminals to target businesses and exploit their vulnerabilities.
Existing Cyber Risks for 2026
According to Allianz Commercial’s annual Risk Barometer, in 2026 ransomware attacks will be the number one risk for businesses across the world. This is the fifth year in the row that this form of cyberattack has been identified as the top risks for companies of all sizes, globally. Though as we’ve previously pointed out, SMEs may be particularly at risk.
Businesses will still need to protect themselves against phishing and ransomware attacks. And thanks to the autonomous malware we mentioned above, these forms of cyberattacks may become more prevalent than ever. On top of this, as the AI models learn and adapt, it may grow increasingly difficult to spot the signs of a potential cyberattack.
Geopolitics and Cybersecurity
Finally, 2026 may also see a rise in geopolitically motivated cyberattacks. As the geopolitical situation grows increasingly tense, governments may target critical infrastructures with cyberattacks, or attempt espionage through overseas data breaches.
Whether through disrupted supply chains or through a rise in the cost of certain goods and materials, such geopolitical cyberattacks would threaten businesses and households alike. For example, in late 2025 authorities discovered thousands of devices in New York City as part of a planned cyberattack that could have wiped out communications across the whole city.
Is Your Business Ready For Cybersecurity in 2026?
What can you do to protect your business against these growing cyber threats?
Mark Stevenson from Anthony Jones says, “If you’re aware of the danger of cyberattacks, then you have a responsibility to cover your business against these risks. Specialist cyber insurance is increasingly becoming a business essential.
Key actions for businesses to protect themselves from cyberattacks and cybercrime, include:
- Take IT Security and Cybersecurity Seriously. Invest in staff training, to help them spot the signs of potential cyberattacks. Keep all of your systems up to date, and make sure you have a data breach response policy, so that everyone knows what steps to take in the event of a cyberattack. Read our full guide to IT security and cybersecurity.
- AI Can Be A Friend, As Well As A Threat. Businesses can make use of AI modules to automate their user and device authentication processes. AI can also be trained to spot threats much earlier than humans, and they can respond effectively within seconds. Read our full guide to AI and cybersecurity.
- Get Specialist Cyber Insurance. A good cyber insurance policy will cover your business both duringand after a cyber security incident. During the incident, you can get all the assistance you need to restore or secure your systems and recover any lost data or assets. And after the incident, you will be covered for any legal or regulatory actions you may need to take. Read our full guide to cyber insurance.
“In the event of a data breach, cyber insurance will cover your business’s liability as well as your ability to manage the impact on both your systems and finances,” says Mark Stevenson.
We Can Help You Protect Your Business Against Cybercrime
At Anthony Jones, we can help you understand the cybersecurity risks your business is facing, and we can ensure you get all the cover you need at a competitive price.
If you have any questions about business insurance, or if you want to ensure your business has adequate cyber insurance in place, we have a team of experts ready to help. Call us on 0208 290 9080 or email us at cyber@anthonyjones.com.
