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Cyber Liability Insurance protects your business with a combination of coverages that protect you from cyber security issues and data breaches.
Coverage components include: Multimedia Liability; Security and Privacy Liability Coverage; Privacy Regulatory Defense and Penalties; System Failure Coverage, Dependent System Failure Coverage; PCI DSS Liability, Breach Event Costs, Cyber Extortion, and Cyber Crime.
A unique aspect of this Cyber Liability Insurance policy is that coverage can also be added to provide coverage for defense costs and civil fines and penalties related to regulatory actions alleging billing errors or EMTALA, HIPAA or STARK violations. A sublimit can also be added to provide medical board defense coverage in the event of a medical board inquiry.
Surgeon posts patient IDs, penalties could total $4.5 million
A plastic surgeon posted before and after photos of several patients on her website. The website’s code was written incorrectly, accidentally exposing the patients’ personal information. Legal settlements per patient have exceeded $150,000. With 15 claims filed and 15 more expected, costs could total more than $4.5 million.
Price tag for stolen laptop and phone: $150,000
An employee of a county health center had his laptop and mobile phone stolen from his car. The devices were not password protected, and both contained personal health information of the center’s patients. The total costs for this HIPAA violation could exceed $150,000.
Our Cyber Liability Insurance specialist Kay Isola is available to provide you with an application for coverage or further information. Contact Kay at (800) 553-9293 X 101.