The Increased Risk of Cyber Attacks in Healthcare

December 03, 2018 2 min read

Ransomware is a booming business, and cyber attacks in healthcare are on the rise. In 2017, ransomware attacks grew threefold, and the FBI estimates ransomware is a $5Billion industry globally. Most large corporations spend hundreds of millions on cybersecurity, making it difficult for cybercriminals to succeed in their attacks. Consequently, many attackers have switched their aim, focusing on softer, more vulnerable targets.

No Business Too Small to Face Cyber Attack Risk
Most small business owners make the mistake of thinking they’re too small to be targeted by cybercriminals, but attackers do not discriminate. In most cases, smaller organizations have fewer security measures in place, which makes them more vulnerable to malicious attacks that are programed to sniff out these vulnerabilities. In 2017, 45% of all ransomware attacks were connected to the healthcare sector. Healthcare data is particularly valuable in the ‘real world’ as it can be used to assume someone’s identity, making it extremely valuable on the black market. Because of the sensitive nature of health care records, there have been multiple high-profile cases of ransom payouts, and attackers have taken note.
Think you can afford an attack? Think again.
Ransomware attacks are extremely expensive. Regardless of whether you decide to pay the ransom or not, there are hidden damages and costs that you’ll inevitably face. Your business will experience downtime, your practice will be disrupted, your reputation will be tarnished, and you’ll likely be facing privacy breach fines. To keep pace with evolving threats, we can support you in going beyond compliance to ensure that sensitive data is protected and secure. And, if you’d like to take your cybersecurity a step further, ask us about our Cyber Liability Protection Insurance today. Contact:   
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