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Business trends

Insurers develop specialized policies for cyberattacks

Risk of hacking too great to be covered by existing policies, companies say

Lloyd's of London, which acts as a go-between in underwriting between insurers, has asked them to specify whether their policies will cover damage from cyberattacks. (Photo by Wataru Ito) 

TOKYO -- The world's insurance companies are moving toward covering damage to business from cyberattacks through specialized policies.

Standards in the international insurance industry are shifting because people in the industry say the current products are inadequate to the task of covering the growing risk from cyberattacks.

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