Hiscox recently started marketing a combined cyber risk/professional liability coverage for hospitals.
The product combines the services of its healthcare and cyber underwriters under the name Healthcare Threat Protect, coverage designed to coordinate with hospitals’ professional and general liability as well as their growing cyber exposures.
Healthcare Threat Protect is an all-in-one policy with one integrated wording, combining the underwriting expertise of Hiscox’s healthcare and cyber teams in Bermuda and London.
Marcus Breese, Cyber and Professions Line underwriter at Hiscox, said that the new cover clarifies the ambiguity between cyber, professional and general liability.
“When it comes to healthcare, cyber-attacks not only impact patient data, but also have the ability to impact the treatment of patients. For example, a ransomware attack can lead to a hospital being unable to access patient records and possible network downtime, potentially interrupting patient care and causing costly interruption to the business,” Breese said. “Examples like this raise multiple liability and loss issues for hospitals.”