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The number of clinics that have fallen victim to ransomware and other malware attacks increased by 165% in 2017. The cost of a privacy breach in healthcare gets over 6 figures quickly.
A clinic privacy breach like a ransomware attack could require notification of all patients in your electronic records system. They will tell their friends, so there’s another cost in crisis communications to protect your reputation and keep patients coming back.
What happens to your clinic if you never recover the patient files? Access to patient data is your business. Brightsquid can help make sure patient information is secured and kept confidential at all times. The risk to your clinic is too great.
The Increased Risk of Cyber attacks in Healthcare
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.Read More
The cost of recovering from a privacy breach isn’t a number anyone running a healthcare clinic wants to think about. With mandatory breach reporting, you could have to notify all of your patients, and two levels of government. Ransomware is on the rise in healthcare and it’s a huge financial risk to your clinic.
The world of cyber crime is always evolving as attackers continue to find new ways to access your protected patient information.
We recommend that you stay one step ahead of the criminals with a comprehensive cyber liability insurance plan, designed and negotiated by Brightsquid for Brightsquid subscribers with compliant practices and Secure-Mail in place of traditional email. Our Insurance plan is negotiated each year through Lloyd Sadd Insurance Brokers and Lloyds of London.
Clinics hit with a major privacy breach are often faced with bankruptcy. No breach is ever planned. Brightsquid Protect Cyber Liability Insurance through Lloyd’s of London covers you and your clinic for these unexpected costs after a breach, up tp $500,000 coverage for expenses, costs, and fines incurred during and after and ransomware attack not typically covered by practice insurance (* marks options available with our Platinum coverage option):
• Incident Response Costs
• Legal and Regulatory Costs
• IT Security and Forensic Costs
• Crisis Communication Costs
• Privacy Breach Management Costs
• Third Party Privacy Breach Management costs
• Funds Transfer Fraud CAD 250,000*
• Theft of Funds Held in Escrow CAD 250,000*
• Theft of Personal Funds CAD 250,000*
• Extortion as per limited selected
• Corporate Identity Theft up to CAD 250,000*
• Telephone Hacking up to CAD 250,000*
• Phishing up to CAD 250,000*
• System Damage and Rectification Costs
• System Business Interruption
• Consequential Reputational Harm
• Loss Adjustment Costs
• Network Security Liability
• Privacy Liability
• Management Liability
• Regulatory Fines
• PCI Fines, Penalties and Assessments
• Intellectual Property Rights Infringement
• Court Attendance Costs $50,000/policy period
Add Brightsquid Protect Professional Cyber Liability Insurance to a PIA Complete Compliance Package or Privacy Services bundle for only $1,000/yr.
Add Brightsquid Protect Platinum Cyber Liability Insurance o a PIA Complete Compliance Package or Privacy Services bundle for only $2,000/yr.
Insurance cost is based on billings under $2.5M and no previous cyber liability losses. If you do not fit into this category, checkout without insurance and contact us to complete an insurance application for a customized price.