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Business trends

As cyberattacks mushroom, so too do cyberinsurance policies

Major Japanese insurers say segment has grown 250% in a year

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A screenshot of WannaCry ransomware   © Reuters

TOKYO -- Corporate Japan is waking up to the danger of cyberattacks, with more companies taking out insurance policies specifically designed to cover digital damage.

According to the Nikkei survey of major Japanese insurers in the nonlife market, their cyberinsurance policies have increased 250% over the past 12 months, surpassing 1,000, as of the end of March. 

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