Due to the highly confidential patient information physician medical offices and healthcare providers have on their computers there is no wonder why these facilities are such a target for hackers.
That's where Cyber Liability & Data Breach insurance come into play.
- Quick Responses to Data Breach
- Physician Offices & Medical Facilities must respond swiftly to minimize the impact of a data security incident on their patients, employees and their practices. Not only is your reputation at risk, but there are laws and regulatory requirements that must be adhered to immediately or practices that experience a breach could face steep penalties and even lawsuits. Protection includes access to experienced breach response partners that can assist in meeting lawful obligations and communicating to those who may be affected by a cyber threat, breach or theft of personally identifiable information entrusted to the practice.
- Help prepare practices for a Data Breach
- Cyber Liability coverage includes access to assistance for practices in preparing for a breach by helping ensure proper security measures are taken before there's even an incident. These services help practices develop appropriate privacy and network policies and procedures, employee training, identify and manage company assets, incident response planning and network security. Data security is challenging and requires a holistic, multi-faceted approach.
Physicians and Administrators understand the damaging effects a cyber attack can have on their practice, especially with all the highly publicized breaches to companies regardless or their size and what industry. Just one incident can cause significant financial loss and permanent damage to the practice's reputation.
With widespread legislation requiring businesses to notify individuals of security breaches involving personally identifiable information, it must be noted that this alone often results in costly regulatory proceedings with fines, penalties and legal expenses. Luckily this coverage takes care of those potential problems depending upon the limits of liability.
Cyber liability insurance and data breach insurance coverage can be added to your existing Business Owner’s Policy and General Liability policies or on a standalone basis.
Would you like more information on how your practice can benefit from Cyber Liability insurance? Call us today (805) 499-7300.