CFC Underwriting, a specialty Lloyd’s MGA, launched a new cyber liability policy that is specifically designed for U.S. healthcare providers.
CFC’s Cyber Practice Leader, Vicky Paxton, says: “Healthcare companies have arguably become the largest target of hackers due to the vast amounts of highly sensitive data that they work with and store. To make matters more complicated, there is rigorous legislation surrounding the protection of this patient data, opening companies up to regulatory fines and investigations if they suffer a breach.”
Innovative features of this new policy include coverage for HIPAA corrective action plans, coverage for bodily injury resulting from a cyber attack, coverage for the costs associated with improving risk management controls in the period following a breach, and unlimited retroactive coverage.
For more information, and applications for submission, please contact Ethos.