Cyber Liability Insurance
Cyber attacks are increasing in frequency and severity. Most practices don’t have the cyber liability insurance they need to recover. The most common source of a data breach used to be accidental; a lost or stolen laptop, desktop computer, cellphone, desktop computer, flash drive and hackers. The average cost of a data breach is over $200 per patient record with total costs typically exceeding $100,000. These costs are just the preliminary costs in the first 90 days after a breach. Many practices lack the legal or technological resources to respond to a breach. Slow or incomplete responses increase damages and diminish customer trust. Your practice can be seriously damaged by privacy breach claims, regulatory actions, costs to investigate, extortion, expenses involved with “hacking,” and costs associated with recovering your data. Cyber liability insurance is a necessary part of business.
Being Prepared to Mitigate Risk
What you don’t know – can hurt you.
The simplest way to mitigate risk is to be prepared, and the team at SMA welcomes the opportunity to assist you in your preparedness. We are confident that our experience and industry acumen will generate a customized, competitively priced insurance program designed to address your unique needs in the most cost-conscious manner possible. Complete the form below, and we will be in touch shortly.
- Pays on your behalf for costs associated with data breaches;
- For practices that don't have a Chief IT Officer, we help set up extra protections, like filtering malicious content, Phishing blocking, and securing web trafficking;
- Understand and mitigate your network insecurities with the help of our experts, at no additional costs to you.