Why do care providers need to think about cyber risks?
From the increased use of mobile and the web, to collecting and storing client data, the reliance your care business has on technology has probably increased over the last decade.
The risk of cyber-crime to your business has increased too, along with the risk of human error. Cyber liability insurance helps by:
- Taking action
As soon as we’re notified of an incident, our cyber policy reacts, covering your liabilities on media, data security, viruses and hacking. - Rectification
Costs covered are further reaching than your initial liabilities. Customer notifications, credit monitoring and legal fees are also included. - Repairing the damage
In addition to hiring forensics to identify root causes, PR consultants can also be paid to mitigate damage to your brand.
How we can help
Our care team has decades of experience in the care sector. We work with our insurer partners to arrange a cyber insurance policy that is truly fit for purpose.
In addition to comprehensive cover, it will also feature access to a team of breach specialists that can help you address risks and issues at pace.
Get in touch with our health and care insurance team
Cyber insurance - product benefits and features
Regulatory defence and penalties
Your policy can cover payment for amounts which you are legally obliged to pay as a result of a civil regulatory action, regulatory compensatory award, civil penalty, or fines (as insurable by law), imposed by a government or public authority regulator.
Cyber extortion
Your policy can cover expenses incurred by you and your business, including the value of any ransom paid for the purpose of terminating a cyber-extortion threat.
Data breach notification
Your policy can cover the cost of consumer notifications following a data breach, to comply with data breach law. This includes legal fees, costs to send and administer notification communications, as well as the costs of call-centre services to respond to enquiries and queries following a notification communication.
Business interruption
Your policy can cover you for loss of business income resulting from the total or partial interruption, degradation in service, or failure of information and communication solutions.
Fraudulent representation
Your policy can cover payment for loss of the insured’s money, property, products, goods, services or other financial benefit, where such losses are as a direct result of a fraudulent electronic communication designed to impersonate the partners, directors or members of the insured.
Frequently asked questions
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The level of public liability cover you need depends on the risks your surgery faces. Cover can be anywhere from £2m to £10m or beyond. We would ask you some questions and then provide a recommendation.
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The level of cover you need will depend on many factors. We would need to assess your business and the risks it faces, then make recommendations. For example, if you employ staff, you're legally required to have employers liability cover for compensation of at least £5 million, but most policies will offer cover for £10 million.
