This we know: Cyber risk continues to evolve, which underscores the challenge of identifying and thwarting risks. "It's vital to stay on top of potential risks as they emerge," Michael Tanenbaum, head of Chubb Cyber North America, said in a recent press release. Chubb boasts more than two decades of experience writing cyber insurance policies, and drew on that expertise to attempt to foresee the nature of this year's major cyber threats. First, Chubb executives believe the strength of pre-incident cybersecurity strategies will determine the extent of potential damage after a breach or attack has occurred. The insurer also believes that governmental entities will become ever more focused on cybersecurity regulation. According to Chubb: "Organizations not only need to ensure that they are in compliance with the laws of the state in which they physically operate, but also determine if they are subject to the laws of the locations where they virtually operate. In the coming years, organizations of all sizes can expect to see increased data regulation in the United States and abroad, which will focus on data privacy, data use, as well as data security." Second, Chubb predicts that cyber criminals will continue to become savvier about how they fill their coffers. Past cyberattacks have largely focused on accessing individuals' private information. Now, experts believe that hackers will employ ransomware with the express aim of accessing legal tender. "Social engineering financial fraud also will ramp up," Chubb says, "and cryptojacking — the unauthorized use of someone's computer to mine cryptocurrency — will be employed heavily by cyber criminals." Finally, Chubb's Cyber Insurance experts believe that our mobile devices and Internet of Things (IoT) tools will become increasingly vulnerable because as more people employ such devices, hackers will have more avenues through which to mount an attack. Chubb says: "We will see more targeted ransomware and phishing attacks. Video and audio capabilities on devices — from smartphones to refrigerators, smart assistant devices, and nanny-cams— will help cyber criminals gather personal information and images." See also: Top 10 writers of cybersecurity insurance