It has recently been reported that the Japanese government intends to require private-sector companies to have cyber insurance when they bid for projects related to the 2020 Tokyo Olympics and Paralympics.

There are also reported plans by the Japanese government to require companies and other organisations (involved in critical infrastructure e.g. information and communications, financial services and electric power) to report any serious cyber attack to the government – currently the reporting is only voluntary. This follows the Cyber Security Basic Act which was passed in Japan in November 2014 that required the Japanese national and local governments to take measures to boost cyber security.

A local article can be found here:

In regard to cyber insurance in Japan, HFW has experience drafting the first ever cyber insurance policy for the Japanese online security houses.