MMIC Offers Data Privacy Insurance
Recognize the increased exposure associated with data privacy, and many of our customers were looking to us for a solution. Given the specific nature of the exposure, we thought it was necessary to an insurer that specializes in the business. What makes the product unique Beazley is a network of experienced professionals ready to respond in the event of a breach of privacy. The network includes forensic experts, lawyers, application providers, credit monitoring and call center services. There is also liability coverage for claims of third parties which may result from privacy, security of networks and Internet media claims.
The health care industry is subject to a variety of federal and state regulations, due to the sensitive patient information is collected and stored by most healthcare organizations. Fines and / or penalties may be assessed if the statutes are not followed. “We are more and more healthcare organizations will be punished for failure to observe these statutes see,” Stafford said. Data Privacy insurance covers legal costs in responding to a regulatory procedure, as well as coverage for fines or penalties that may be assessed. “When an infringement occurs, you must be prepared to quickly and effectively respond to your exposure to the brand damage and legal liability limit, With this type of coverage, you can do just that.