Cyber Insurance Recommended for All Physician Practices

Share this content:
Cyber Insurance Recommended for All Physician Practices
Cyber Insurance Recommended for All Physician Practices

WEDNESDAY, Aug. 8, 2018 (HealthDay News) -- The growing threat of hacking is increasing the number of physicians buying cyber insurance, according to an article published in Medical Economics.

According to the article, cyber insurance covers losses and damages resulting from patient data being stolen, exposed, held for ransom, or improperly shared as a result of both deliberate actions (hacking or ransomware) and accidents, like a lost laptop or a coding error that accidentally exposes patient data. The covered consequences of a data breach can include paying fines and compensation for loss of income as well as the fees to hire information technology experts, a public relations firm, attorneys, and even a call center to handle patient inquiries.

Practices that don't have specific cyber insurance often have some limited coverage through their malpractice or general business policies. Brandon Clarke, co-founder of Affenix, a brokerage specializing in cyber insurance, says that a primary care practice with five physicians should have an umbrella cyber policy of at least $1 million, which could cost an estimated $1,200 to $5,000 a year.

"Even though you're a small practice, the motivation to attack is still there. People who say they haven't been targeted simply haven't been targeted yet," Lee Kim, director of privacy and security at the Healthcare Information and Management Systems Society, said in the article.

Abstract/Full Text

Share this content:

is free, fast, and customized just for you!




Already a member?

Sign In Now »

Trending Activities

All Professions

Drug Lookup

Browse drugs by: BrandGenericDisease

More in Home

Ancient Gene Protects Elephants From Cancer

Ancient Gene Protects Elephants From Cancer

The LIF6 gene destroys cells with damaged DNA

Reasons for Undergoing Cosmetic Procedures Explored

Reasons for Undergoing Cosmetic Procedures Explored

Psychological and emotional motivations more likely in patients wanting acne scar tx, tattoo removal

DNR Orders Linked to Increased Mortality in Older Adults

DNR Orders Linked to Increased Mortality in Older ...

Early versus late DNR tied to shorter median length of stay in hospitalized adults aged 65 years and older

is free, fast, and customized just for you!




Already a member?

Sign In Now »