Compliance and Cyber Coverage Breakdown
As we live in the Digital Age, data breaches within the healthcare industry are becoming far too common. Healthcare organizations have an average cost of $355 per lost or stolen record according to the Ponemon Institute: 2016 Cost of Data Breach Study. It also stated that healthcare has the costliest data breaches because of fines and the higher than average rate of lost business and customers. There are three main causes of a data breach: a malicious or criminal attack, system glitch or human error. You may be asking yourself, what could or should you do in order to mitigate the risk?
Most Medical Malpractice polices already have some complimentary coverage included. Clients of our sister company MedMal Direct, receive $50,000 complimentary Cyber and Compliance coverage with their professional liability policy. While $50,000 can be sufficient for a smaller practice, it can easily be exhausted with 1 claim from a larger establishment. CorePRO is able to provide increased limits that compliment what is already provided in MedMal Direct’s policy. Contact us today to get the process started!