Protecting Patient Information is Paramount
But Hackers Happen.
Whether patient information has been jeopardized because of a stolen laptop, misplaced papers or another event, your patients expect you to protect their personal information, and HIPAA requires it. Traditional insurance products such as general liability, property and business income insurance don’t typically cover problems with patient information. That’s why we offer data breach insurance to help absorb some of the costs associated with a breach.
Why Data Breach Insurance is Important
Whether in physical or digital format, your patients' information is confidential and valuable. Lost or stolen patient data poses a threat to you and your patients. Even if you have safeguards in place and review them frequently, no practice is immune to this risk.
A data breach insurance policy typically provides coverage for:
- Expenses related to notification, data recovery, credit monitoring services, crisis management/public relations and good faith advertising.
- Defense and liability including defense costs, civil awards, settlement or judgments.
Having the right insurance coverage can help compensate you for expenses incurred if patient data is at risk. This could include costs of:
- Informing those who may be the victims of the theft
- Replacing the data and for income lost during the recovery process
- Recovering lost information (victims may expect you to pay for it)
- Lawsuits, if victims who suffer financial losses from identify theft sue you