Cyber data breaches of information, a relatively new phenomenon, are in many ways uncharted territory, with healthcare providers a frequent target.
Many optometrists feel they are “too small” for a cyber attack of any kind, falsely thinking because they are not a big box store or national brand that no one would bother with their practice but “the IDC’s Health Insights group predicts that 1 in 3 health care recipients will be the victim of a health care data breach in 2016.*
Which is why you need to protect your practice and yourself.
Not only are cyber compromises of patient data against physicians and providers happening more often, the fines for violating HIPAA (The Health Insurance Portability & Accountability Act) are climbing – into the millions of dollars!
HIPAA requires providers to safeguard patient information and verify the identity of the person requesting information. Further, practices must notify patients when a breach of health records has occurred.
It doesn’t take much to compromise a patient’s health records.
A wrong email address. A misspelled name. Even an innocent text between staff members about a patient’s test results or prognosis can send personal health records into the cyber sphere – possibly into the hands of someone who will misuse the information.
The compromised patient now has grounds to make a cyber liability claim.
Keep in mind that HIPAA was created to protect patients, not healthcare providers. And although the regulations offer guidance about securing patient information, physicians, practices and hospitals can still be sued.
Cyber Liability Insurance: A Must In The Cyber Age.
Cyber Liability Insurance, like the AOA-endorsed policies offered through Lockton Affinity, is your best protection if a patient’s records are breached or leaked.
With Cyber Liability Insurance, you’re covered for the high costs associated with theft or breach of patient data, including:
- A hacker or virus that affects your computers or network
- Loss or theft of a computer or other device containing records or passwords
- Paper files that are stolen, mishandled or disposed of improperly
There are even notification services to assist you with legal requirements – filings that can cost up to $30 per affected record – as well as services that guide you on how to respond to an incident and investigate the cause.
Cyber Liability Insurance Covers You. In More Ways Than One.
Cyber Liability Insurance, along with Professional Liability and BOP policies, can protect your practice from a wide range of incidents and their consequences:
Compare policy highlights
Professional Liability Insurance
Cyber Liability Insurance
Business Owners Insurance
|Discounts||First year of practice: 50%
Second year of practice: 25%
|Limits||$1,000,000 per event/
$2,000,0000 per event/
$500,000 and $1,000,000
|Business errors & omissions (E&O)|
|Faults in professional work|
|Add additional employees, including both full-time and part-time|
|Provides experienced malpractice attorney services|
|Covers legal defense cost|
|Covers loss of income|
|Can cover corporation, partnership, professional association or legal entities at no charge|
|Automatically updates when your state’s scope of practice laws change|
|Expenses related to responding to a major privacy event|
|Expense of notifying all parties affected|
|Cost of ongoing credit monitoring|
|Outside investigative costs|
|Your building, furnishings & equipment|
|Property damage & damage to the property of others|
|Fire & theft|
|Events that disrupt your business|
|Computer hardware theft|
|Patient files theft|
|Live U.S. based support|
|Learn More||Learn More||Learn More|
to get a free quote today!
Like to learn more about the essential protection Liability Insurance can provide to you and your practice? Check out our page on Cyber insurance.
Coverage may not be available in all states and is subject to actual policy terms and conditions. Coverage is provided by an excess/surplus lines insurer which is not licensed by or subject to the supervision of the insurance department of your state of residence. Policy coverage forms and rates are not subject to regulation by the insurance department of your state of residence. Excess/surplus lines insurers do not generally participate in state guaranty funds and therefore insureds are not protected by such funds in the event of the insurer’s insolvency.