Why does my healthcare business need Cyber Insurance?

Cybercrime is one of the world’s fastest-growing criminal activities, and unfortunately, the healthcare industry is a target. 

New Zealand businesses are not immune. With new cyber-attacks created every day, how satisfied are you that your business is well protected? If a data breach were to happen, it could result in a significant disruption to your business, negatively impacting you, your colleagues, and your patients or clients. Lost access to sensitive records represents one of the most significant risks you face.  Most businesses just would not be able to operate.  
So, it’s surprising that many healthcare practices continue not to carry Cyber Insurance and are unprepared if the worst happens. 

Your IT provider may say you don’t need cyber cover – we disagree.

We liken that to saying, because you installed fire extinguishers, you can cancel your building insurance. Even if you have the most robust IT systems, human error can still occur. A capable IT provider who installs sound preventative systems is some of the best protection you can have. Cyber insurance is designed to support your IT provider, not undermine them. In the event of a claim, your IT provider is one of the first people your insurer will call to assist, and yes, they will get paid for their time. Cyber policies also cover for loss of income and additional expenses, resulting from not being able to run your systems. While your IT provider will do their best to get you back up and running, there is always going to be downtime, which can last hours, days, or potentially longer. And it all costs you. 

Frankie can provide the Cyber Insurance you need to protect your business. For an instant quote, greater detail of the cover or to put the cover in place, go to frankie.co.nz or call (07) 903 5000.