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Cyber-Attacks Targeting The Healthcare Industry Have Spiked Since COVID-19 Began

Cyber–attacks targeting the healthcare industry have spiked since COVID-19 began. The Health and Human Services Breach Portal reports a record increase of 320% over the past year. When an incident occurs, a quick response is needed, and ransom, legal and forensic costs can add up quickly. This is why PCIHIPAA’s cyber liability insurance coverage continues to be a highly-desired
feature of our program.

Below are several answers to common questions.  We’re here to help.  Please contact us if you need any assistance.

Frequently Asked Questions

Is PCIHIPAA an insurance broker?

No.  Because of our OfficeSafe compliance program and software, we’ve been able to secure a Master Cyber-Insurance policy that covers all of our clients.  PCIHIPAA does not sell insurance.  The coverage is included as part of your enrollment in OfficeSafe 360 or OfficeSafe HIPAA.

What is covered under the program? 

We have included a PDF of the coverage that includes all limits and sub-limits. 

Who is the insurance carrier?

Lloyd’s of London is the primary insurance carrier of the policy.  The policy is issued by an insurance syndicate of Lloyd’s of London. 

Did coverage limits change?

Yes.  As of March 15, 2021, per practice limits are changed to $250,000 (subject to additional sub-limits).  The reduction in policy limits was made in order to keep our price as low as possible, while continuing to provide the limits we felt necessary to protect your practice.  For clients that are utilizing the OfficeSafe compliance program, we have not seen losses of over $250,000 per incident, for practices that have experienced a ransomware attack or data breach.  We will continue to monitor all options with cost, coverage, and overall cyber-security risks in mind.

Can I purchase additional cyber – insurance through PCIHIPAA?

Technically no, since PCIHIPAA is not an insurance broker.  However, you may purchase additional coverage through Christine Marciano, Cyber Data Risk Managers LLC (732) 610-5344. 

Can I opt-out of the cyber-insurance portion of my OfficeSafe Compliance Program?

Yes.  You can opt-out of the cyber -insurance coverage.  However, PCIHIPAA recommends that all practices maintain cyber insurance.  Even with the premium increase, the coverage provided is much lower than purchasing a separate cyber-insurance policy.  Premiums have recently increased up to 50%.

Will my price increase every year?

At PCIHIPAA we do everything possible to absorb program cost increases.  The price increase in 2021 is directly due to the increase in cyber – insurance premiums.  This is only the second price increase PCIHIPAA has made since 2012.  As a reminder, your OfficeSafe 360 Compliance Program includes: Cyber- Insurance; unlimited user access to OfficeSafe; over 1,300 in continuing education credits; all policies and procedures; OSHA compliance and a $25,000 OSHA Audit Guarantee; 100GB of encrypted data backup; Payment Card Industry (PCI) compliance; employee trainings and webinars; Identity Restoration Protection; and e-mail encryption. 

What are my obligations to receive the coverage?

You must be a current, billable PCIHIPAA client.  In addition, you must maintain:

1.     An active firewall configured at the network perimeter

2.     Anti-virus scanning software on ALL network workstations

3.     Network data back-ups stored offsite and updated at least once per week; and

4.     Multi-Factor Authentication for all remote access to owned networks or systems

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