Owners and operators of nursing homes have a real need for cyber liability insurance coverage to protect, not only their interests, but the interests of their residents as well. Every nursing home is different, both in size and the services they provide, but nearly all use computers and likely store a lot of sensitive information on their servers. Therefore, their coverage needs and requirements are very much the same. The fact is that most nursing facilities can benefit from some type of cyber liability policy, as this is a common concern and an issue that is constantly growing.
Cyber breaches are routinely dealt with on a daily basis
Cyber theft, cyber breaches and cyber crimes are practically a daily occurrence in one sector or another and news reports constantly express just what a serious and devastating problem this is for many businesses. Many companies carrying sensitive information, including medical records, will likely experience a data security breach at one time or another.
When a security breach does occur, having protection from an insurer specializing in handling cyber risks will help to minimize any gaps in current coverage, as well as protect your clients’ businesses against liability issues, along with any expenses arising from any theft or loss of data. Plus there are the additional concerns about expenses arising from a cyber breach, particularly for those entities that could be sued for not properly securing client information.
Cyber insurance provides protection from a growing number of cyber terrorists intent on stealing personal data and information for monetary gains. The list of potential losses from these types of exposures includes destruction of critical data, defamation, and fraud, just to mention some of the more serious issues.
Denial of service attacks or inability to access websites or systems (which may include the introduction of malicious code or viruses) can very well cripple an organization. Also, disclosure of confidential data, or unauthorized access to, or tampering with data, can affect the lives of clients, staff, and others. This could very well lead to a number of cases of fraud and identity theft being filed against your client, as well as claims of invasion of privacy.
The costs associated with cyber theft or misuse of client information can be immense. In order to avoid your clients from becoming victims you should suggest that they have some type of cyber liability insurance policy as part of their business insurance coverage.