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Into the Breach

High-profile data breaches encourage companies to buy cyber liability coverage.

By Michael P. Voelker, PropertyCasualty360 | Updated on March 12, 2014

On Dec. 23, the last thing holiday shoppers at Target wanted to be thinking about was having their credit-card information compromised. But that was one luxury no one on hand could afford.

“We don’t know yet,” one harried store manager in Staten Island painfully admitted to one especially persistent elderly woman demanding answers about what data thieves now knew. Was she safe? Could she continue to shop? Should she? How badly had the retail giant’s consumer database been compromised? No one could say for certain.

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