Your practice's protection plan may be incomplete without cyber liability insurance on the policy. Find out why.
In a litigation-focused society,
every patient is a potential plaintiff, waiting for a reason to sue. The more technology driven and advanced healthcare practices get, the more often there is the risk of accidental electronic transmission of private patient information, viruses, hackers, HIPAA fines, and more leading to a lawsuit. Medical malpractice and medical professional liability insurance don't protect against these types of damages, as there was no physical or mental harm resulting from these breaches. Many medical offices are finding themselves left out in the water with an open wound. Cyber liability insurance protection is specifically designed to protect your business from lawsuits that stem from an electronic breach, as well as an oral breach and paper breach.
Where Do Cyber Liability Insurance Claims Originate?
Does your office have Internet access? Do you utilize an electronic medical records system? Do your employees email patients directly or talk with patients in the presence of others? Are records electronically imaged or are paper copies left where others could read them? Most healthcare offices today use many technologies, because they are generally convenient and reliable. Not to mention, they allow easy transmission from one place to another, as well as a method of storage. These last two factors, transmission and storage, make for a perfect storm for cyber liability insurance claims. The very technologies that allow doctors' offices to make recordkeeping and communication easier are the same ones that put medical offices at risk each and every day.
Isn't Diligence Enough?
Some medical business owners think safeguards, such as virus software and double checks before sending information electronically, against these claims are enough. But technology attacks, such as viruses, are ever-changing and even the most up-to-date virus software can't keep up. Additionally, a simple slip of the finger can send an email containing sensitive information to the wrong person or a conversation between a doctor and office staff could be easily overheard. Part of the difficult part of being a business owner is worrying about not only the interactions between staff and patients, but amongst employees themselves and potential errors that your employees might make.
Protecting Against Emerging Threats
Having an active cyber liability insurance policy alongside medical malpractice and medical professional liability insurance allows your practice to be proactive against potential emerging threats and claims. Many times, cyber liability insurance is part of an existing comprehensive coverage strategy, but it can prove very valuable in formulating an actionable plan to protect your practice and livelihood. Damages are being defined differently every day, and precedents are being formed.
Ideally, with a solid brokerage service and adequate coverage, your practice can focus on what's most important: the patients, and giving those patients the care and service they deserve. Mistakes happen, as do errors. Doctors, nurses and other employees in your practice are only human, after all. Protect yourself, protect your employees, and protect your practice before a simple mistake turns into a problem that can affect your entire business.
