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NetDiligence Releases Analysis on Healthcare Cyber Claims

By Ken Briodagh
April 05, 2018

In a recent release, NetDiligence, a provider of cyber risk readiness and response services, announced it has published “Spotlight Healthcare,” a data-driven analysis of cyber risk insurance claims in the healthcare sector, as an addendum to the company's 2017 “Cyber Claims Study.”

This report is a deeper look at the topic, analyzing cyber risk insurance claims in the healthcare sector for incidents that occurred from 2014-2016.

Among its key findings:

  • Many of the claims occurred in small or mid-sized (SME) healthcare organizations.
  • While healthcare claims comprised 17 percent of claims in the 2017 claims dataset, they represented 28 percent of total breach costs.
  • The average number of records exposed in a healthcare breach was 1.6 million. The median number of records exposed was only 1 thousand.
  • Average Total Breach Crisis Response costs for healthcare, including legal guidance, Breach Coach, forensics, victim notification, and credit and ID monitoring, was 3 times higher than the average of all other business sectors.

“The quantity and quality of cyber claims submitted by our insurance carrier partners for our annual study has grown every year,” said Mark Greisiger, president, NetDiligence. “With sufficient loss data we are able to dive more deeply into what's occurring in specific business sectors or as a result of specific types of losses. Knowledge is power, and NetDiligence is committed to providing greater insight into the true impact of data insecurity for our cyber risk insurance partners and their policyholders.”

Sponsoring this special "Spotlight Healthcare" report are AllClear ID and RSM.

The "Spotlight Healthcare" study is available for download. eRiskHub licensors and their clients have exclusive access to an expanded version of the study in their eRiskHub portal.

Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh

Editorial Director

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