At a time when technology and the risks associated with it affect every person and business we protect, we are pleased to offer leading-edge cyber liability insurance as an option for qualified policyholders. Cyber liability provides comprehensive data security coverage addressing both first-party losses and third-party liability claims, breach response services and claims handling backed by a team of legal, forensic and crisis management experts. Coverage includes required notification and credit monitoring costs, extortion threats (like ransomware attacks) and some coverage for regulatory investigation and fines.
In light of the central role that data and data security play in modern medicine and business, it’s important to invest in insurance that will provide coverage if a data breach occurs. According to the “2016 Cost of Data Breach Study: United States” from the Ponemon Institute, the average cost of a health care breach in the United States was $402 per exposed personally identifiable record. For a clinic with even a small patient load, that cost could be devastating.
Cyber liability insurance can mitigate the costs associated with:
- Business interruption
- Network security breach
- Internet liability
- Web content liability
- Unknown electronic communications
There is no substitute for strong data protection policies and procedures. However, cyber liability insurance is an important way for health care practices to limit the impact of these risks on their operations and their patients. To learn more, contact WisMed Assure via firstname.lastname@example.org or call 866.442.3810.