We’ve written extensively about the increasing cooperation and often fusion between cyber security services and cyber security insurance, plus the push to protect America’s healthcare sector.
Cyber Insurance for Hospitals
Casey Holland of Marsh emphasized the “bespoke” nature of the solution: “It’s a comprehensive approach to helping our hospitals combat cyber threats and provide a substantial offering on their cyber liability insurance.”
The North Dakota Hospital Association (NDHA) is adding a geographical overlay to the trend with its new “Cyber Cover” program. It offers “cyber-security as a service” from Critical Insight combined with insurance coverage from the team of Marsh McLennan and Tokio Marine HCC – Cyber & Professional Lines Group (TMHCC). “Through our relationship with Critical Insight, together with Marsh McLennan Agency and Tokio Marine, NDHA members can lower their cybersecurity risks and those who qualify will receive a competitive option on their cyber insurance. This not only strengthens their cybersecurity resilience but also delivers exceptional value by mitigating financial impacts,” said Tim Blasl, NDHA President, in a press release.
In our estimate, programs such as “Cyber Cover” will grow in prominence as enterprises, especially SMB’s, realize they need to pool resources to achieve even minimal security and insurance best practices.
Other News: Whoever Underwrote this Hospital System May Not Be Sleeping Well(Opens in a new browser tab)