As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy continues to grow. According to Home Health Care News’ article, With Data Breaches on the Rise, Home Health Providers Especially Vulnerable, the number of cyber attacks targeting health data has reached record highs in 2018. Hackers have been targeting health data as patients’ information such as social security numbers, addresses, birth dates and medical history are not easily changed. To add to the vulnerability, the mobile nature of transferring data in the healthcare sectors increases the risks of data breaches.
When cyber attacks like data breaches and hacks occur, they can result in devastating damage. Businesses have to deal with business disruptions, lost revenue and litigation. It is important to remember that no organization is immune to the impact of cyber crime. As a result, cyber liability insurance has become an essential component to any risk management program.
Cyber exposures aren’t going away and, in fact, continue to escalate. Businesses need to be prepared in the event that a cyber attack strikes. ProAction’s Cyber Security Planning Guide is designed to help employers protect their business, information and customers from cyber threats.
To learn more about cyber liability insurance and ProAction’s Cyber Security Planning Guide, contact ProAction Insurance Services today.