data breach and cyber liability insurance

Podiatric practices are rich storehouses of patients’ protected financial and health information, making them prime targets for attacks by cyber criminals.

Areas of Concern:

  • Data Breach Liability
  • Liability incurred through improper disposal of paper or electronic documents, or the loss of a laptop, tablet or flash drive that contains protected personal, health or financial information.
  • Most base commercial liability and property policies do not automatically provide coverage for these types of threats.

To address these issues, Member Insurance Solutions offers the Beazley Breach Response (BBR) Select cyber liability and data breach insurance product through specialty insurer Beazley. The BBR Select program goes beyond traditional coverage to address every aspect of a data breach scenario, from notification, to credit monitoring and reputation management. Additionally, all policyholders are immediately enrolled in the Data Security Risk Management program, which provides unlimited access to online compliance materials, newsletters and instant alerts, expert support and much more.

Select Coverage Highlights:

Legal liability coverage for theft, loss, or unauthorized disclosure of personally identifiable non-public information or third party corporate information that is in the care, custody or control of the insured organization, or an independent contractor that is holding, processing or transferring such information on behalf of the insured.

  • Legal liability arising from failure to comply with state breach notice laws (see links in left column for Michigan specific information).
  • Coverage for failure to comply with your own privacy policies as well as failure to administer an identity theft prevention program required by governmental regulation.
  • For unauthorized access, theft of or destruction of data, denial of service attacks and virus transmission involving the insured’s computer systems resulting from computer security breaches.

Privacy notification costs:

  • Coverage for the costs to provide notification in compliance with a breach notice law, including fees charged by an attorney to determine the applicability of and actions necessary to comply with breach notice laws. Credit file monitoring is also included.
  • Coverage for the costs to hire a computer security expert to determine the existence and cause of a security breach.

With cyber liability insurance in place, you will have peace of mind in knowing you have protected yourself and your practice from one of the newest and fastest growing threats to businesses today. Please contact Melanie Adler at Member Insurance Solutions for more information on the BBR Select plan by calling 800.878.6765.

educational links

The more you know about the HIPAA/HITECH Act, the more you’ll understand why you need the BBR coverage. What you don’t know can hurt you.

bbr select program highlights

  • Breach reponse services outside the limit of liabiilty
  • Notifications not capped at a specific dollar amount
  • Legal and forensic help from an expert panel
  • Regulatory defense and penalties coverage
  • Offer for 12 months free three-bureau credit monitoring to notified individuals
  • Public relations and crisis management coverage
  • Vicarious liability protection
  • Limits up to $20 million
  • Risk Management tools including:
    • online compliance materials
    • expert online support
    • newsletter and instant alerts
    • webinars
    • audio and podcast training