Millions hit by data breach in Japan: How cyber insurance can protect you against such risks — check costs, coverage

Japan last week declared a “state of emergency in cyber space” as a growing wave of cyberattacks hits major companies, hospitals and government facilities, raising concerns that tens of millions of customer records may have been exposed, according to a report by the Financial Times.

This growing cyber security threat prompted Japan’s financial regulator to warn banks against accepting driving licences as proof of identity when opening new accounts, the news report stated.