News & Insights

Resources for Facilities to Mitigate Cyber Risk

October 24, 2022

Resources for Facilities to Mitigate Cyber Risk
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October is Cybersecurity Awareness Month. To help our insureds better protect themselves and their facilities from a cybersecurity incident, we will provide cybersecurity-related content in our newsletters and on social media this month.

While the average cost of a data breach surpassed $9 million in 2021, the true cost for a widespread cyber-physical attack in the healthcare industry remains difficult to pinpoint. Cybersecurity concerns for healthcare providers are complex and can include medical devices used directly in patient care, in addition to technologies used to provide systems and security to a practice or facility. However, there are measures that facilities can take to better protect themselves against a cyberattack.

In partnership with our cyber risk experts, Tokio Marine HCC – Cyber & Professional Lines Group, LAMMICO offers our insureds complimentary access to TMHCC CyberNET®, the most advanced cyber risk management solutions inclusive of incident response plans, compliance and training materials as well as information addressing latest trends in data breaches and cybercrime. Registered Members are encouraged to log in and access the CyberNET® portal.

LAMMICO includes $100,000 of MEDEFENSE® Plus/Cyber Liability coverage in most hospital policies and $50,000 in most healthcare facility policies at no additional charge to the insured. We also offer the option to purchase higher limits of protection through our subsidiary agency, Elatas Risk Partners, subject to underwriting which will include questions that hone in on two-factor authentication and backup processes and procedures. Please contact your insurance agent for information on purchasing higher limits of Cyber Liability insurance.

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