We recently hosted an educational webinar to discuss cybersecurity and understand how insurance coverage—coupled with a proactive IT approach to managing cyber risks—can help medical practices and healthcare systems respond to and recover from a cyberattack.
From general liability and malpractice policies to first- and third-party coverage and sub-limits, participants learned about the nuances of cyber risk insurance coverage along with the technology and non-technology controls that underwriters will evaluate before quoting a cybersecurity policy.
The subject matter experts also discussed:
- Understanding the latest security threats facing healthcare organizations and how the ever-changing digital environment is augmenting the risk
- Assessing your cybersecurity needs and how to protect patient data from cyberattacks
- Evaluating your cyber risk policy and the factors that go into pricing your coverage
- Responding to a cyberattack in partnership with technology services and your cyber insurance carrier
Notable quotes from the webinar:
Jennifer Brown
VP, Customer Operations | Pixel Health
“When it comes to cyberattacks, we say, ‘it isn’t a question of if, but when.’ Even big companies will have their data compromised. That’s why every organization must be prepared and implement cybersecurity programs. It’s more cost effective to do it now and be proactive.”
“Our clients often ask, ‘what should I fill out on my cybersecurity information application?’ We can help answer these questions and provide the services—assessments, guidance, and phishing simulation software—that they need to be compliant.”
Ben Adler
Principal | Wellstone Insurance
“Insurance companies look for different ways of implementing multifactor authentication. They’re looking for endpoint or managed detection and response. They’re looking for encrypting information on all types of emails and scans. It’s not uncommon at all for an insurance company, as part of the underwriting process, to scan your website to see how secure your website or other outward facing Internet points are secured.”
“Long ago, there was a time that some cyber risk exposure was covered by the general policy. The general liability policies have grown to add exclusions for breaches and other cyber risk events. So, generally speaking, cyber is excluded from your general liability policy.”
“Your systems are down. Your customers can’t access what they need to access. You can’t get to where you need to go. We’re here to put things right, and we’re gonna help you get back up and running as quickly as possible. With the right coverage in place, it really can be comforting.”
