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Health care is among the top industry targets of cyber attacks. Breaches can cost $400-plus per record, the highest of any industry for the eighth straight year and nearly three times higher than the cross-industry average of $148 per record. This is according to a 2018 study by the Ponemon Institute, an independent research organization on privacy, data protection and information security policy.
Despite the scope and extent of cyber vulnerability in health care, many organizations still have little or no confidence in their ability to detect all patient data loss or theft. They are also ill prepared to meet the changing cyber threat environment with a comprehensive incident response plan comprised of forensics analysis, mandatory patient notification, identity theft protection, remediation and resolution services and crisis and reputational management. Added to this is the fact that a data breach could be in violation of HIPAA laws and result in fines and penalties if not reported properly, jeopardizing the reputation of the organization itself.
Manchester Specialty Programs offers a comprehensive Cyber solution for the Home Care, Allied Health and Human/Social Services. Our program is designed to respond when a data breach or other cyber incident occurs, providing the safety net and resources that health care organizations need to protect their operation.
Our Cyber program includes specific coverage and limits that can be packaged within our General Liability and Professional Liability policy, or secured as a more robust “standalone” policy. Highlights of our various program offerings include:
There are also additional policy enhancements available such as specialized coverage for “rogue” employees or regulatory proceedings expenses. In addition, we provide access to invaluable cyber management and loss prevention assistance through our carriers and third-party consultants that includes services such as computer forensics to vet the source of the breach and assess the damage, mandatory breach notification, remediation and resolution services, and crisis communication expertise.
Our experience and commitment to the home care industry goes back to 1976 when our President and CEO’s father, Warren L. Thompson, was the first in the insurance marketplace to design specialized insurance coverage for home health care organizations. Our commitment continues as we focus on serving the broader Home Care, Allied Health and Human/Social Services sector as a leading source of “all lines” insurance coverage. Our programs are exclusively offered through our broker partners, and provide unparalleled underwriting experience, excellent service and competitive pricing. For more information about our programs and becoming a broker partner with us, please call us at 855-972-9399.