Exploring Challenges, Benefits of Cyber Insurance in Healthcare

Health IT Security

Jill McKeon

Cyber insurance coverage can help healthcare organizations minimize losses in the wake of a data breach, but it does not replace the need for a comprehensive security strategy.

As the healthcare sector remains a key target for data breaches, more organizations are turning to cyber insurance to minimize the damaging effects of a breach.

Healthcare data breaches impacted more than 40 million individuals in 2021 alone. A single data breach costs healthcare organizations an average of $9.23 million.

Experts say cyber insurance can help, but due to the unpredictable nature of cyber threats and the lack of historical data to estimate losses, cyber insurers and clients may find themselves navigating uncharted territory.

“The cybersecurity insurance landscape is evolving quickly and not always...

Get the Morning Update

Thanks for subscribing!