Most people think a breach won’t happen to them, but did you know that for medical practices or anyone that keeps and stores medical records the chances of a HIPAA breach occurring is not a matter of ‘if’ but ‘when’. Recent studies uncovered that within the last two years 91% of medical facilities have experienced at least one breach. The question that many owners or managers of medical practices do not know is the true cost of a Hipaa violation or
How many times have you received a new credit card this year? It seems consumers are all too familiar with this process. Today we wanted to share how 2014 the “Year of data breach” has not only affected the consumer with credit card replacement fatigue, but also affected the banking industry with expenses. When a data breach occurs to a retailer the banks are the ones issuing the cards and it has become quite expensive. Each new replacement credit card
Would a D&O insurance policy cover the board if a data breach claim occurs? Every policy has its quirks both D&O and Data Breach, and most of these insurance policies have different coverage language. 3 things that stick out about the D&O Policy: 1. Your D&O policy language may exclude data breaches all together. It also may not. Read the exclusion section for words like “privacy acts.” Have a cyber liability insurance professional review it further. 2. A D&O insurance
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