Healthcare providers, like any business, are exposed to a range of cyber exposures, including malware attacks, which can have a devastating impact on their operations, especially in relation to system damage and business interruption costs.
In this month’s cyber claims case study we have reviewed a malware attack at a small hospital and how our policy assisted with making the hospital operational again. While many cyber policies exclude physical property and hardware replacement costs, the hospital’s cyber policy from CFC provided cover for these items.
Here are a few key points from the case study:
- Healthcare organisations have often seen their cyber risk as being primarily about data breaches, but the impact of other cyber events like malware attacks can be just as severe.
- Any business that relies on computer systems to operate can have a substantial exposure, particularly when it comes to system damage and business interruption costs.
- Some cyber insurance policies only cover data breaches, but it’s important to also consider operational interruption costs that could be incurred by a destructive malware
Read the full case study here and look out for our next Cyber Claims Case Study next month.