Data Breach Protection Plan
If you think the rules regarding data breach reporting apply only to major breaches involving 500 or more persons you are wrong!
-71% of data breaches happen to small businesses
-Small businesses experience 95% of the credit card breaches reported
-52% of small business owners say they have no data security policy
-Reported data breaches were up 38% in 2011
And when sensitive data is exposed- your reputation is on the line!
We can help absorb some of the costs associated with a breach:
The Cost Of Notification-
(i) E-mail and First Class Mail; (ii) Substitute Notices: Media Notice; (iii) Substituted Notices: Toll-Free Number; (iv) Imputed cost to affected individuals who call the toll-free line; (v) Notice to Media of Breach: Over 500; (vi) Report to HHS: 500 or More; and (vii) Investigation Costs: Under 500; (viii) Investigation Costs: 500 or More;
Consequently, compliance with the notification requirements of the Breach Notification Rule can be expensive, particularly if the number of individuals whose PHI has been compromised is large.
Civil Monetary Penalties
-The entity did not know and could not have known of the HIPAA violation: Not less than $100.00 nor more than $50,000.00 per violation.
-There was reasonable cause for the HIPAA violation: Not less than $1,000 nor more than $50,000 for each violation.
-The HIPAA violation resulted from willful neglect on the part of the culpable entity but was corrected within 30 days of the date the entity became or should have become aware of the violation: Not less than $10,000 nor more than $50,000 per violation.
-The HIPAA violation resulted from willful neglect and violation was not corrected: Not less than $50,000 per violation.
-reputational damage and unfavorable media attention
-credit monitoring services to affected individuals
– patient and public trust corrosion
“Choosing insurance is a tremendous responsibility, and we are delighted to assist in that process. We consider your needs personally, and intelligently.”