In an era marked by an alarming rise in cyber attacks targeting the healthcare industry, CFC, an insurance provider with a focus on emerging risks and cyber security, has announced significant updates to its eHealth insurance solution. The healthcare sector, increasingly reliant on digital technologies for patient care, has become a prime target for cybercriminals, exacerbating the need for comprehensive insurance solutions. The frequency and sophistication of these attacks have underscored the vulnerabilities inherent in the intersection of technology and healthcare, prompting CFC to enhance its offerings to protect digital health businesses and healthcare providers.
CFC introduced the original eHealth insurance policy in 2017 to address the unique risks that companies and practitioners at the nexus of healthcare and technology face. With the evolving regulatory and technological landscape, especially after the COVID-19 pandemic, the recent improvements aim to navigate the increased regulatory complexities and the growing influence of technology in healthcare.
“Explosion of Digital Healthcare”
Andrew Dallamore, eHealth Product Manager at CFC, discussed the impetus for the enhancements. “After the explosion of digital healthcare following the onset of the pandemic and as the Public Health Emergency Waivers look set to expire, lawmakers and regulators are considering how to regulate the practice of telemedicine and emerging digital health technologies such as AI and Software-as-a-Medical Device tools going forward,” he explained. The need for CFC’s policy to adapt to these regulatory shifts and to protect against the heightened risk of cyber threats has never been more critical.
The updated eHealth policy for North America introduces features such as regulatory cover that extends beyond traditional insurance, offering licensure defense for providers, and safeguarding against losses related to regulatory compliance. It also addresses a broad spectrum of cybercrime risks, including ransomware, providing policyholders with access to CFC’s incident response services and proactive threat intelligence service. Furthermore, the policy now includes automatic coverage for allegations of sexual misconduct and physical abuse, acknowledging the rise in such claims from both remote and in-person consultations.
Dallamore highlighted CFC’s ongoing commitment to meeting the complex needs of the healthcare sector. “Our new streamlined eHealth cover has been enhanced to address the exposures of both telemedicine and traditional physicians where both modalities of care are being utilized. We are proud that our policy continues to offer the broadest coverage in the market,” he stated.
Source: CFC streamlines eHealth cover in North America.
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