JLT Speciality Insurance USA released a report on data security and insurance in the healthcare space. JLT’s Florence Levy is one of the co-chairs of HB’s upcoming NetDiligence Cyber Risk & Privacy Liability Forum in Santa Monica Oct. 6-7. Cyber security for the healthcare industry is one of the many sessions that are regularly covered at the NetDiligence events. Also, HB and 4A Security & Compliance are dedicating a full day to the topic in Philadelphia on Oct. 22. Learn more.
Here are some of the telling facts JLT shared in the report:
- Covered entities under the HIPAA/HITECH regulations are having more and larger breaches – 40% reported more than five breaches and 59% of all business associates had at least one breach.
- Criminal attacks are up 125% over the past five years with almost 60% of healthcare data breaches malicious…but 70% of covered entities are most concerned about employee negligence.
- 100% of respondents in a recent survey of healthcare companies reported experiencing an electronic incident, but one-third of those same respondents did not have an incident response plan.
- The recent breach at Anthem exposed as many as 80 million healthcare records to cyber thieves. This event will be the largest healthcare breach to date, with costs estimated to be in excess of $100M.