Cyber Liability insurance is very important for all Florida healthcare providers, regardless of size, specialty, or location in Florida. Florida physician and dental offices are especially vulnerable to a cyber liability loss because they deal with health-related information. Cyber liability claims are on the rise in Florida, robbing Florida patients of their privacy, exacerbating medical identity theft, and costing Florida doctors billions of dollars annually. Cyber liability breaches are costly to Florida doctors—fines, penalties and cyber legal costs, responding to cyber victims, and cyber credit monitoring for victims.
Cyber liability breaches in Florida occur in many ways: Lost or stolen files, hacking attacks, improper disclosure of sensitive information, and lack of proper disposal of sensitive documents.
In Florida, cyber liability insurance accomplishes three things:
- Cyber liability risk management to help the Florida doctor become legally compliant and strengthen their privacy and security programs.
- Cyber breach response services: If a Florida doctor has a cyber liability breach, he can pick up the phone and call the company for help. The rest is handled by the company.
- Insures against cyber liability breach costs, which can run into the millions of dollars. Included in cyber liability insurance in Florida are defense costs, coverage for regulatory fines and penalties, notification costs, credit monitoring costs, and public relations for damaged reputations.
Remember that cyber liability coverage is excluded by Florida property and malpractice insurance policies.
The universe of potential cyber liability plaintiffs is overwhelming to the Florida practitioner, when one considers the number of people and organizations on the internet.