Hospitals and large medical institutions are always at a high risk of being exposed to an outbreak of a contagious disease due to the constant traffic of people with all kinds of illnesses. If a medical pandemic were to ever happen, the amount of revenue lost due to the interruption in business extra expenses could be too big a loss to bounce back from. This is where the new medical catastrophe “contagion” business interruption protection will be necessary.
Running a private practice includes the storing and using of personal and private data that includes things like emails, patient files, financial records, inventories, etc. Nowadays, with technology advancing so quickly, a risk of breach in the business network and private data is so high that private practices and doctors’ offices are now seeking out cyber liability insurance. This insurance can cover you in the following situations: