You do whatever it takes to safeguard your patients’ interests, what about their data?
Your skill brings patients in the door. Trust brings them back. When a patient’s personal information is compromised, their privacy and your practice may be at risk. Protect with Data Breach Insurance.
77% of employees leave their computers unattended
65% of small businesses say their organizations sensitive information is not encrypted
56% of employees frequently stored sensitive data on their laptop or mobile device
62% of small businesses don’t routinely back up data
Don’t let a data breach compromise your patients’ trust.
Data breach is a growing threat to many businesses and their clients. If your business handles or stores Personally Identifiable Information (PII), such as health information, Social Security numbers, or financial data you are at risk. According to one source, more than a half a billion records have been exposed since 2005.
The financial exposure of a breach can be expensive, including notification expenses, public relations, legal fees, and most importantly, potential loss of business and patient trust. Last year, the average cost of compromised healthcare record was $301 according to the Penemon Institute’s study: 2010 U.S. Cost of a Data Breach. Therefore, a breach of 500 healthcare records could cost your business $150,500.
Here is some important information to help you safeguard your practice and your patients.
What is a data breach?
It is the loss, theft or accidental release of PII. All it takes is a lost laptop, some paper files that aren’t properly shredded, a missing and unencrypted backup drive, ect.
Is my practice really at risk?
Breaches can strike practices of any size. Healthcare providers, accounting firms, and law practices are particularly vulnerable because they accumulate a client’s PII.
What safeguards can I take to prevent a breach?
Start with the basics: restrict access to data; lock it up and put security systems in place. Limit the use of portable technology; avoid unsecured wireless networks; and ensure network security.
What should be done if a breach has occurred?
Seek professional assistance. Data risk management and forensics experts will confirm if a breach has occurred, who has been affected and who needs to be notified. They will also help determine the need for remediation alternatives. If you have data breach insurance, call your carrier immediately.
How can data breach business insurance help?
Data breach business insurance and services can guide you on how to handle a breach, and help cover response and liability costs to quickly restore the reputation of your practice and patient’s trust. For example, The Hartforts collaboration with Identity Theft 911, business owners can access breach preparedness tools and professional assistance to handle a breach crisis should one occur.
Contact us to learn more about data breach insurance, seriously. Did you know some data breach insurance’s only cover digital? You’ve worked hard to build your dream into a thriving medical office. We’ve made it our goal to understand the unique exposures and important issues that need to be considered when customizing an insurance package for a medical office like yours.
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