New standards for cyber insurance on tap

The Japanese government plans to develop standards for cyber insurance coverage in order to increase take up of this coverage by private firms in the country, The Japan News reported.

The government is planning a new system wherein the level of security measures of the firms would be determined and insurers would then use the criteria while calculating premiums. The take up of cyber insurance in the country is reported to be lower than that of the United States and other countries.

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