As all types of online banking activity increases, so do banks’ security risks — and their need for specialized insurance coverage, industry sources said.

“Security-of-data issues are of a whole other magnitude” for banks than for any other industry because of the amount of information banks have about their customers and the sensitive nature of that data, said Emily Q. Freeman, practice leader for e-business risk solutions at Marsh Inc., a New York insurance broker owned by Marsh & McLennan Cos.

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