Data Breach Damages Quickly Mount

Sharon Dold

There has been much discussion in the cyber insurance marketplace about third party damages from a data breach. A hospital in California recently agreed to pay over $240 to each patient who was affected by the breach. Although the breach was relatively small with only 33,000 people impacted, the damages quickly mount.

St. Joseph Health to pay $7.5M | Becker’s Hospital Review

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Healthcare Industry Struggling with Frequent Cyber Attacks

Chad Chaffin

Healthcare organizations are facing almost one cyber attack per month. About 48% of healthcare IT and IT security practitioners have said they had a breach involving loss or exposure of patient information in the past year. According to a report from the Ponemon Institute, organizations are struggling to find successful security strategies. 

Some of the most notable threats come from:
  • System failures
  • Unsecured medical devices
  • Identity thieves
  • Unsecured mobile devices
On average, organizations have an advanced persistent threat (APT) incident every three months. The fallout of this includes IT downtime, an inability to provide services, and for forty-four percent of respondents, these incidents resulted in the theft of personal information.

To find out more information go to: 

Healthcare cyberattacks occur almost monthly | FierceHealth IT
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2015 Professional Liability Conference Great Success

Sharon Dold

The 2015 Professional Liability Conference was a great success. The focus was on cybersecurity. With several large breaches at health insurers over the past year, cyber insurance has risen to the top of most Blue Plan risk managers’ priorities.

Conference speakers covered a range of topics. The meeting kicked off with greetings by Mr. Scott Serota, President and CEO of the BCBSA and by Mr. Scott Beacham, President and CEO of BCS.

From there, we shifted quickly to cyber risks. Simon Barker of Blue Moon Consulting spoke about reputational risks. One of BCS’s reinsurance representatives, Tom Draper, spoke about developments in cyber insurance. Later that day, we worked through a table top exercise with Ted Kobus of BakerHostetler, which gave risk managers an idea of the questions and issues that arise during a breach. Chris DiIenno of Lewis Brisbois addressed legal and regulatory trends related to cyber breaches.

The next day, the focus was on the cyber program, since named CyberBlue 2016, that Plans and BCS are jointly creating. The risk manager work groups presented an update of their activities and reinsurance representatives provided more details on the inner workings of the  program. 

We had a great discussions with lots of input from the conference attendees. We hope to see you again next year!

For more information visit:
Professional Liability | BCS Insurance Company

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Injured Tourists Benefit From Travel Insurance

Greg Petit

Many travelers do not plan for the negative scenarios that could occur during a trip. However, accidents and tragedies can happen at any time. Many times travelers are out of their comfort zones and are unsure of how to handle these situations. Read the following article from Travel Pulse and see how Allianz Global Assistance was able to quickly help their insured after an accident. This is a prime example of how travel Insurance can give you peace of mind and put you at ease while planning your trip in case any unforeseen events may occur. 

Victoria Falls Train Wreck Injures Tourists | Travel Pulse

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Common Travel Insurance Myths

Sasha Schnurr

A vacation is not typically viewed as an investment but it should be treated and protected as such. However, only one in five travelers whose trips were affected by medical conditions, natural disasters, and other events had travel insurance. The following article from Travel Agent Central dispels common myths about travel insurance that seems to be deterring people from taking advantage of the many benefits it offers. 

UStiA Survey Dispels Six Common Travel Insurance Myths|Travel Agent Central

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CVS Stops Selling Cigarettes

Dianne Jimenez

Blue Cross and Blue Shield has been a proponent of wellness initiatives for years. 4 Ever Life also encourages wellness by promoting separate smoker and non-smoker rates on our GUL program, marketed exclusively to Blue Cross and Blue Shield employees and their families. Now we see a major drug store chain, CVS, implementing their decision to stop selling cigarettes in their stores. This post from Health and Human Services details the upcoming change by CVS to be effective on October 1, 2014.

CVS to Stop Selling Cigarettes | PG Compliance Coach
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From Natural Disasters To Vacation Disasters

Greg Petit

There is no way to be certain about the weather conditions when planning a trip. However, knowing that June 1st marks the opening day of Hurricane Season can help you to plan accordingly and protect your trip with travel insurance. Read the following article from InsureMyTrip and find out what insurance companies consider to be “known perils” and how hurricanes can affect your trip even if your destination is not a hurricane hotspot. 

Why Purchasing Travel Insurance For Hurricanes Can’t Wait | InsureMyTrip
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