Data Breach insurance, also known as cyber security insurance, covers the costs of responding to a data breach. It may also cover liability in lawsuits, attorney fees, credit monitoring, data restoration and patient notification.
TDIC Insurance Solutions has trusted and effective strategies to help you address and resolve a data breach. Our experienced staff can save you valuable time and money by ensuring your practice meets all compliance requirements.
Why do I need Data Breach insurance?
While federal law may not require cyber security coverage, it is crucial that you protect the sensitive patient information your practice stores.
In most cases, a general liability policy does not cover the associated risks of a data breach. That includes the loss of control over protected health information (PHI) and personally identifiable information (PII).
Most data breaches are caused by simple mistakes, such as computer theft or placing confidential documents in a recycling bin. Additionally, the use of electronic health records systems and mobile devices may increase your risk to a data breach, leaving patient information exposed to:
- Theft or loss
- Malware and hacking
- Unauthorized access or disclosure — even by trusted employees
- Improper disposal
Even if you use state-of-the-art data security controls, encrypted information may still be at risk. A data breach can strike at any time, from half a world away or an unlocked recycling bin behind your practice.
Without proper coverage, the financial impact could prove devastating to your practice:
- Out-of-pocket costs of notifying federal and state regulatory agencies and local media outlets
- Loss of staff time and productivity
- Loss of revenue
- Damage to your reputation
- Civil lawsuits by patients
- HIPAA and/or HITECH fines and penalties
What does Cyber Security insurance cover?
When working with protected health information, your practice assumes responsibility for the security and privacy of a patient’s data. While you might think general liability insurance has you covered, most policies offer little or no protection against data breach. With cyber security insurance, your practice is covered for:
- Denial of service attacks or inability to access websites or systems
- Unauthorized access to, use of, or tampering with data
- Disclosure of confidential data (invasion of privacy)
- Loss of data or digital assets (malicious or accidental)
- Introduction of malicious code or viruses
- Cyber extortion or terrorism threats
- Regulatory action, notification or defense expenses
- Crisis management and public relations expenses
- Data or system restoration
How can you protect your practice from the threat of a data breach?
TDIC Insurance Solutions remains committed to ongoing data breach risk management and prevention. To offer dentists protection against the threat of data breach, we have aligned with Beazley, a leading cyber security insurance provider, to offer a unique solution tailored for the dental community.
With our program, you’ll enjoy free access to:
- Complimentary loss control and risk management information including online resources and value-added educational webinars through beazleybreachsolutions.com.
- A computer forensics “Information Security Incident Response” guide to empower your organization’s IT staff with knowledge of crucial forensic procedures that can make or break the investigation of a suspected breach.
- Assistance at every stage of the investigation of, and response to, a data breach incident from Beazley’s in-house BBR Services team of data privacy attorneys and technical experts.
Don’t expose your dental practice to the financial and reputation risks associated with data breach. Contact TDIC Insurance Solutions at 800.452.0504 or email [email protected] for more information.
Beazley Data Breach Application
Data Breach Flyer
Beazley Breach Response Flyer