As noted in our prior posts (here & here), healthcare organizations have significant cyber risk exposure and should carry Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage) – small healthcare organizations included. And if there is any question that smaller healthcare organizations are targets, see this TrendMicro article (here), and note exposed records:
- 87,314 records at a Florida eye institute
- 19,397 records at a pain treatment organization in Arkansas
- 5,883 records at a foot care facility in Nebraska
- 12,000 records at a New Mexico drug & alcohol treatment facility
- 22,000 records at a series of dental offices
- 50,000 records at a Texas medical practice (see here & here)
In addition, healthcare has become a significant target of ransomware attacks, as noted in an earlier post here. Ransomware attacks are not only costly, but also can be extremely disruptive.
Cyber Risk Insurance is an essential coverage for healthcare organizations of all sizes for protection from both criminal attacks and employee breaches; it should not be optional. Coverages vary widely, and so a thorough review is essential to ensure that comprehensive coverage is in place.
Tennant Risk Services is a specialty wholesale broker and underwriting manager, and delivers expertise, markets and exemplary services to our retail insurance agent clients in the placement of professional liability and specialty insurance (E&O, D&O, EPL, Cyber Risk, Specialty). We excel at Cyber Risk Insurance.
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