3 cyber-insurance tips for practices

While 2015 may have earned the moniker 'year of the healthcare security breach,' the cyber-risks to your practice aren't going anywhere in 2016, according to an article from Physicians Practice.

"Given that hackers even got into the White House email system, it's clear that no one is safe. If cyber thieves want to get at your system's data, they will probably succeed," wrote Jeffrey D. Brunken, president and chairman of the board of insurer The MGIS Companies, Inc. "So, as 2016 dawns, physicians should be particularly careful to not only ensure that their information systems are secure as possible, but more importantly, ensure they have comprehensive insurance coverage against cyber risks."

When purchasing the right cyber-insurance for your practice, keep the article's following tips in mind:

  • Many insurers offer free cyber-risk riders as part of liability policies, but they may not be comprehensive enough in the event a practice's data is compromised.
  • Because every practice is different, a customized liability package may be the way to go, according to Brunken. Practices must ask their insurance brokers to perform a risk assessment to identify vulnerabilities and help determine what services are needed.
  • At a minimum, practices may want to ensure services such as notifying patients, providing credit monitoring and hiring information technology security experts to help resolve problems are included.

To learn more:
- read the article