Expanded Cyber Liability Protection

As of April 1, 2019 ISMIE Mutual has expanded its cyber liability protection to include two new coverage areas at no extra cost and lower retentions. This enhanced coverage means you’ll now also be covered in certain instances for:

  • eCrime: financial loss resulting from fraudulent instruction, funds transfer fraud, or telephone fraud.
  • Criminal Reward: Reimbursement for payment that leads to the arrest and conviction of any individual(s) committing any illegal act related to the cyber liability coverages.

All ISMIE Mutual policies, including new business and renewals, are issued a cyber liability endorsement — at no additional cost to policyholders.

In addition to the generous basic coverage aggregate limits, higher cyber coverage limits are available to policyholders. Click here for more information about this coverage option.

Why the Need for Cyber Liability Protection? 

Medical practices need cyber liability coverage to protect against the threat of:

  • Unauthorized disclosure of patient health information and patient identifiers;
  • Failure of computer security to prevent a system breach;
  • Regulatory actions by the government arising out of unauthorized disclosure and/or computer security breaches;  
  • Business interruption due to a computer security breach;
  • Claims arising from your medical practice’s website media content; and
  • Fines and costs incurred under the terms of a credit/debit merchant services agreement; 
  • Cyber extortion threats;
  • Expenses incurred to recover or restore deleted, damaged or corrupted data;
  • Claims arising from alleged errors or omissions in your practice, such as billing to a government or commercial payor, self-referrals, violations of the Health Insurance Portability and Accountability Act (HIPAA) and/or the Emergency Medical Treatment and Labor Act (EMTALA).

This coverage also provides peace of mind for patients. In the event of a covered unauthorized disclosure or security breach, patients will be offered up to 12 months of free credit or identity monitoring. 

This endorsement is provided to ISMIE policyholders through a partnership with Beazley Syndicate, a leader in cyber liability protection for physicians, physician groups, hospitals and other health care organizations. Beazley is a participant in the Lloyd's of London market and also underwrites business in Europe, North America and Asia.

Questions? Please contact the Underwriting Division at 800-782-4767 or by email at underwriting@ismie.com