Provided by: Jennifer Kirschenbaum, Esq.
January 9th, 2020
Question:
Jennifer:
Over the break my practice had a ransomware attack. I'm not sure what we could have done differently, except possibly have had insurance? Is there insurance for a cyber attack? Thankfully our IT department was able to block most of the damage...
Thanks, Dr. P
Answer:
Unfortunately ransomware is ever more common, and if you do have an attack you are very much left alone to fend. The authorities will make a report, but will regularly explain it is out of their hands. The best defense against a cyber attack is a good offense - put the time and money into a reasonable IT strategy for your practice. In addition to spending on competent IT personnel and technology, you absolutely can get Cyber Insurance. Typically a rider to your GL policy, Cyber Insurance is not very costly and you can obtain coverage limits to protect against business interruption, damages, legal expenses, IT expenses, etc. If you do not already have a policy, I recommend as you engage in your 2020 status review, you add Cyber to your list of insurances.
