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Shoppers arrive at a Target store in Los Angeles on Dec. 19, 2013, shortly after the retailer announced its cyber breach. (AP Photo)

Cyber insurance is essential for businesses today, but acquiring the appropriate coverage is a challenge, writes The New York Times. Citing Target’s infamous breach of its point-of-sale systems late last year, The Times says lack of data on cyber breaches and the inability to quantify losses from attacks make it difficult for insurers to underwrite the coverage.

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