We have all heard about the high-profile medical data breaches in the news lately, and the resulting call to action to purchase Cyber Liability insurance. While a high-tech hack is a real threat to your practice, did you know that Cyber Liability insurance covers more than just cyber hacks?
Most Cyber Liability policies cover stolen devices. Theft accounts for about 29% of breaches, making it the No. 1 data breach in the medical field. It could be theft of your laptop, cell phone, desktop, portable drive, or even paper files from your office, hospital, car, or home. It also covers accidentally leaving your device somewhere.
As mentioned above, many Cyber Liability policies cover paper that contains private information. What happens when
an employee accidentally faxes or mails private patient information to the wrong place? Believe it or not, human error ismore common than IT hacks. Cyber Liability insurance also covers paper files that are not destroyed properly and end up in the wrong hands (think dumpster diving).Depending on your carrier, you may also have access to network protection and multimedia liability coverage on your Cyber Liability policy. Network protection helps you recover and replace data that has been compromised, damaged, lost, corrupted, or erased due to a variety of perils such as a disgruntled employee or a virus. Multimedia liability protects you from claims of copyright and trademark infringement, claims of slander, false advertising, and plagiarism, and provides personal liability for online and print media.
Many Cyber Liability policies also include free resources such as risk management and access to experts who can help you navigate the risks associated with your practice. Depending on your carrier, they may also have free onsite risk assessments that will help you avoid a breach.
