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Are we de-facto targets?
Have you purchased cyber insurance yet, Doc?
If you are a HIPAA covered entity, you’re going to need it.
Press release: “AIG among insurers seeking more sales as small firms get hacked” (no byline).
“Smaller companies [including dental offices] are learning that, as more data is shared online, they, too, can be targets for the kinds of attacks that larger firms endure. American International Group Inc. and Travelers Cos. are among insurers tailoring cybersecurity products to those customers.”
The Expert Speaks
Bob Parisi, network security and privacy practice leader at the insurance brokerage of Marsh & McLennan tells DelawareOnline that small and mid-size companies are “where we’re going to see some of the most aggressive growth in the next couple of years, because it’s been a part of the market that was ignored.”
The ad describes how a California-based online print shop was targeted by hackers who exposed clients’ names, addresses and credit-card numbers last year. Much like dentists whose EDRs are hacked, after discovering the breach, business owner David Handmaker had to notify affected customers. The Ponemon Institute predicts that 20% or more of the customers notified will instantly become former customers.
“We’re just much, much more aware of the fact that being a small company” makes us more of a target,” Handmaker tells DelawareOnline. He adds that larger businesses have “more resources, and so I think their security practices are maybe a little more evolved.”
Assessment
Small businesses such as print shops and dental practices have become de-facto targets – and according to security experts, easy pickings. I’m not wrong. I’m early.
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Conclusion
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Filed under: Information Technology, Insurance Matters, Pruitt's Platform | Tagged: AIG, American International Group, Bob Parisi, Cyber Insurance for Dentists, Darrell Pruitt, HIPAA, Marsh & McLennan, Travelers Cos | 8 Comments »
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