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Program Brokerage Corporation

Program Brokerage Corporation (PBC), is a powerful market resource for brokers and agents, we are also a partner for carriers reaching out to the commercial insurance buyer in innovative, cost-effective ways. We’ve pioneered an innovative approach to Purchasing Group Insurance buying, which has won popular acclaim.

Cyber Liability Update: Healthcare Under Attack

Anya Khanutina Anya Khanutina , 8/16/2016
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Program Brokerage Corporation
Cyber Liability Update - The Healthcare Industry Under Attack
Provided by Program Brokerage Corporation
Recent high profile data breaches have highlighted the ease at which sophisticated criminals can access sensitive information and cause immense damage to an organization and any affected individuals. However, an entirely new set of cyber liability factors have come into play for the healthcare industry, including the rise of ransomware, social engineering and the enforcement of costly HIPAA fines and penalties. Click HERE to view the latest healthcare cyber claims.

Cyber Coverage Concerns:

Although cyber liability policies are becoming more standardized in the market, there is still significant variation among carriers in coverages provided and policy exclusions. Program Brokerage Corporation (PBC) will help you analyze the adequacy of your clients' cyber coverage to address common gaps and concerns, including:
  • Does the policy cover mobile devices and cloud computing?
  • Are regulatory claims, including fines and penalties covered?
  • Is social engineering coverage provided for loss of funds/monies?
  • Does a retroactive date apply to the coverage?
  • Is cyber extortion or cyber terrorism covered?
  • Does the policy cover "dependent" business interruption?
  • Are there encryption exclusions buried in the policy form?
  • Does the policy cover PCI fines and penalties? What limit is adequate?
The cyber liability specialists at PBC have advanced knowledge that can assist you with fine-tuning your firm's cyber insurance capabilities to best serve the needs of your clients.

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Michael Kambos | Phone: 212-338-2924 | Email: [email protected]

Shawn Flanagan | Phone: 484-344-4647 | Email: [email protected]

Jonathan Kastoff | Phone: 212-338-2966 | Email: [email protected]

Click here for more information on Professional Liability
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