Some well-meaning Veterans Administration bureaucrat brings work home on his laptop, and in the blink of a nanosecond, millions of veterans face the potential risk of having their identities stolen. With each new societal fear, the insurance industry is not far behind in trying to quell at least the financial pain that lies behind it, and cyber threats are no exception.

Today, privacy issues have emerged as the top concern of companies seeking to shield themselves from a public grown increasingly concerned with each publicized potential threat.

For nearly a decade, some of the major commercial insurance writers have been looking to protect businesses from the new threats brought on by the Internet through a wide array of products nuanced enough to bewilder even the savviest risk manager. Peter Taffae, executive vice president of the Los Angeles-based Executive Perils wholesaler, warns of the innumerable "cyber policies floating around."

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