PROFESSIONALS

 

cyber insurance for professionals + the service industry

Cyber insurance for professionals is advised due to the highly sensitive information they work with. Recently, the government passed legislation to shift responsibility to professionals when dealing with protected information. This means that in addition to employing a secure IT system, professionals are now required to have company-wide policies and procedures  for employees for handling, transmitting, and disposing of data.

In addition to doctors offices, hospitals, rehab and health facilities, any business associates – including lawyers and their subcontractors- that come in contact with protected health information (PHI) are federally liable under HIPAA and its Omnibus Final Rule to electronically safeguard this information or risk very steep fines, penalties, sanctions, and potentially damages arising from private suits. In the event PHI is breached, Cyber Insurance will compensate you every step along the way: fines and penalties, breach notification costs, first and third party damages, business interruption insurance, media and crisis management.

Professionals that do not work with PHI are not off the hook, however. Financial information- including credit card numbers, bank account and wiring instructions, social security numbers, addresses, email addresses, and valuable data are all at risk and therefore need to be protected.

If you still think your business is not a target for a cyber criminal, think about this: your exposure is as large as your biggest client. If your firm accidentally passes malware to your client that causes a breach and compromises your client’s data, YOU ARE LIABLE. Target’s HVAC company was responsible for the most notorious cyber breach to date- a loss no one can afford.

 

PROFESSIONALS INCLUDE

  • Sole Physicians, Doctors offices, Hospitals, + Health Care facilities
  • Health insurance companies and HMOs
  • Lawyers and Legal Services Support
  • Business Support Services
  • Accountants + Financial Planners
  • Architects, Engineers, + Construction
  • Consultants – all fields
  • Insurance Brokers
  • Marketers, Graphic Design + Consultants
  • Human Services and Temporary Help services

 COVERAGE INCLUDES

SYSTEM DAMAGE + BUSINESS INTERRUPTION

 

BREACH NOTIFICATION  

 

 CYBER + PRIVACY LIABILITY

 

MEDIA LIABILITY

 

 REGULATORY PRIVACY ACTIONS

 

 CYBER EXTORTION

 

 COURT ATTENDANCE COSTS

 

 CRISIS COMMUNICATION COSTS 

 

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