FSG Cyber Liability Coverage

FSG Cyber Liability Coverage

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Coverage to protect against cyber liability risks

Cyber liability insurance protects your business from risks relating to information technology, including data breaches of your customers’ personal information (in both paper and electronic files). While certain professional and general liability policies offer cyber liability coverage, it is important to make sure you have the proper level of coverage for your particular situation.

Why are medical and dental practices a target for cyber crime? Health care entities have access to valuable, confidential and personal information, including medical records (electronic and paper), billing details, and insurance information. Compromised identities can be sold for as little as $50 each. A data breach can result in significant costs, at least $240 a year, per identity, in legal, public relations, IT forensic, and credit monitoring expenses associated with responding to a breach. COPIC Financial Service Group's expertise helps you select the right coverage option to protect your practice at an affordable rate. And for individuals, groups, and facilities that have medical liability coverage with COPIC (which includes embedded cyber liability coverage), we can offer guidance to see if additional levels of protection might be relevant for your situation.

The cost of cyber liability insurance is less than you think.

This type of coverage is based on your current number of health care providers, and not rated on the total number of people with access to the personal information or number of patient health records. This allows insurance to be affordable in relation to the potential cost of a data breach.

Cyber Liability Stats

68%

of all breaches are cause by loss/theft of mobile devices or electronic files

78%

of people claim to be aware of the risks of unknown links in emails. And yet they click anyways

 How are health care and dental providers exposed to cyber risks?

  • Most breaches are preventable and caused by simple negligence.
  • Improper disposal of patient records (both paper and electronic) can result in breaches.
  • Rogue employees can also create cyber liability issues.
  • Sensitive data that is not encrypted is another key area of concern.
  • Outsourcing IT services and issues associated with this can open up a practice to risks. 
COPIC Financial Service Group is an insurance brokerage firm representing a variety of insurance carriers. Products offered by COPIC Financial are not issued by COPIC Insurance Company.

FSG Cyber Liability Contact: Mitch Laycock

Mitch works with clients to evaluate and develop insurance plans that best meet their professional and personal situations. He came to COPIC with more than 18 years of insurance experience as a wholesale broker, providing services to independent agents and their clients in areas such as Employment Practices Liability, and Property and Casualty.

Phone: 720.858.6297
Toll Free: 800.421.1834 Ext. 6297

Email Mitch

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