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Health Data Liability

Data Protection
Insurance - Privacy Protection -

Network Security

A. Data Protection  Liability Insurance; Hipaa is only the tip of the iceberg. An Expensive Claims Issue for the Health Provider Industry:

If you are a healthcare company business owner, director, 
officer, or professional, both you and your company are at
risk every day
; at risk not only for professional mistakes
(Which is often covered by errors and omissions insurance, or
malpractice insurance), but also for:

1. Cyber Liability Damages Resulting From Improper
Information Disclosure
 - Unintentionally disclosing confidential information can result in substantial liability judgments costing healthcare providers (And possibly the officers and directors)
6 to 7 figures; improper disclosure or theft of information,
such as social security numbers and personal healthcare information about patients can be in violation of multiple laws.
Of course, you have heard about HIPPA and other federal
and state laws.

Question: Does your computer database contain
information that could cause your company AND you signifcant financial losses, if stolen?

Answer: Your database of confidential patient information and/or social security numbers could be downloaded by anyone. Example: A computer repairman who visits your office (or accesses the network from a remote location)
to make a repair. You may think that you can trust the company you hire, but that doesn't mean you can trust
the repairman with your business information exposed.
Most unlawful data disclosure claims result from middle market companies that thought their data
was safe, but it wasn't. Downloaded: All those social security numbers! All that medical information!
In minutes! 

The larger your accumulated database, the bigger your potential liability loss (when the personal medical and
social security data are stolen). It happens all the time.
Of course all these injured companies, officers, and directors were proud to tell you the data was safe
(Prior to the theft).

Result: Your company's data can enrich the thieves and anger your patients! How many patients personal data records can be downloaded in a couple of minutes?

5 years worth? 20 years worth? Multiple claims for 
violation of laws and cyber liability negligence (Note
Cyber Liability claims are - generally excluded from
general liability insurance policies and professional 
liability insurance policies).

Lawsuits and Judgments may cost you 6 figures for
legal defense and another 6 or 7 figures to pay the court judgments. Multiple claims from multiple clients,
most suing both your company and the officers and directors personally too.

Well we know your legal defense "law firm" isn't cheap. Healthcare companies and professional practices
frequently need a "law firm", using multiple lawyers to
defend themselves. Even if you were to win, you still
lose with legal fees at probably about $400 an
hour (Lawyers generally bill for every phone call,
letter, time spent thinking, and legal research too.)

When your team of lawyers prepares for trial or goes
to court, you pay by the hour or day for every member
of the team!

Cyber Liability Insurance can pay both the court 
ordered judgments and the legal defense bills too.

In fact, Cyber Insurance may pay your customers'
claims before your clients get even more angry with
the company and decide to find another company 
(or practice) to do their future business with.

If you're an owner or manageryour being distracted
and worried for years while a lawsuit is vigorously
pursued by plaintiffs attorneys will also cost you a loss
of revenue and profits. Anxiety interferes with revenue
and profits; it can
 actually decrease the value of your business and your personal income.

After the data is stolen, it's too late to obtain
Cyber Liability Insurance coverage!


Cover Agency, Ltd
Healthcare Industry - Licensed
Insurance Broker and Agent

Direct: (347) 886-9778
(English and Chinese Spoken)

Direct: (347) 551-0800

Executive Offices:
(718) 591-2400

179-14 Union Turnpike
Flushing, New York, 11366 USA

We speak English, Spanish, Chinese.
Italian, Armenian, Turkish
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