Healthcare-Focused Coverage Options
WE UNDERSTAND YOUR RISKS BY FOCUSING ON cyber liability INSURANCE products & services DESIGNED for Healthcare
Comprehensive Cyber Liability Insurance
covering your business' liability for a data breach involving sensitive customer information and patient health records
Full Spectrum Coverage Options
Have proper mitigation with proper coverage but also receive valuable prevention tools from top rated carriers
Cyber Liability Insurance
Cyber Liability Insurance and it’s relevance to physicians
Physicians manage hundreds of clients files and the information obtained is sensitive to HIPAA Privacy Policies. With the potential for Network Breaches and companies becoming more dependent on technology for content management, it is critical that physicians in California take technological and procedural steps to mitigate the possibility of a breach. It is impossible to secure any network entirely. Partner with a respected and stable partner to mitigate this potential risk.
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What are the Coverages available for physicians and medical organizations
Network Security & Privacy Liability pays for liabilities arising out of demands or lawsuits as a result of a breach of your network or private data. It can cover defense expenses, settlement amounts, regulatory claim defense expense, and privacy regulation fines and penalties.
First Party Expenses covers unavoidable expenses associated with data breaches such as costs to notify affected customers by mail (required by law), computer security expert expenses to find and fix the source of the breach and prevent future breaches and credit monitoring. It can also cover the lost income as a result of a network breach.
“The research identified a number of factors that reduced the average $141 per-record cost of a data breach. For starters, having an incident response team — either in-house, via a third party or a combination of both — can shave off $19.30 per record. Even for a breach of 10,000 records, that represents savings to the tune of $193,000 or $1.9 million for a breach of 100,000 records.”
CyberSecurity & Medical Devices
Physicians in California with Small, Independent Private Practices & Large Medical Entities must acknowledge their old electronic devices used in the office and the corresponding HIPPA compliance standards required.
The guidance defines cybersecurity as “the process of preventing unauthorized access, modification, misuse or denial of use, or the unauthorized use of information that is stored, accessed, or transferred from a medical device to an external recipient.” Translated into “HIPAA language,” this requires the availability and integrity of the device—and its data—remain intact. - Oct. 18, 2018, entitled Content of Premarket Submissions for Management of Cybersecurity in Medical Devices – Draft Guidance for Industry and Food and Drug Administration Staff. ***
The Insurance Company Standard
ONLY THE BEST OF CARRIERS WITH STRONG FINANCIAL STRENGTHS & DEFENSE PROGRAMS
We look for only the best ratings and financial stability in the Medical Professional Liability Insurance Companies in our portfolio of carriers. With access to admitted, non-admitted, mutual protective trusts and more, our clients have options.
The Brokerage Service Standard
WE WORK FOR OUR CLIENTS, NOT THE INSURANCE COMPANIES
Our business model allows us to shop multiple insurance providers without any additional costs to you. Insurance premiums are set from the insurer with pre determined commissions to the agents. Let us work for you!
