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.
