Dental files contain highly confidential information, and when records are invaded, dentists are subject to loss of revenue, potential lawsuits and reputational harm. Since some liability policies exclude Internet issues, the need for coverage for these exposures is critical. Cyber crime insurance addresses the risks of data breach in general, but to be sure specific needs are met, the dental professional should look for the following provisions:
Forms of Cyber Crime
Cyber crime has several forms, including identity theft, phone hacking, cyber threats and extortion. All of these should be covered by the policy so that the dental practice is not left to pick up the pieces of the criminal activity.
The dental practice is required to notify patients of a breach of sensitive data. Since this can be expensive and disruptive to normal procedures, costs of notifications should be covered by the cyber crime policy. Any necessary third party notices should be included as well.
Business Interruption Coverage
The system downtime resulting from cyber crime causes loss of revenue that may be critical to a dental practice. In addition to addressing this need, the policy should also cover any future loss of income that ensues from damage of reputation.
Counting the Cost
The added business expense of cyber crime insurance should be weighed against the potential loss in the event of a data breach. The cost of premiums is minimal when compared to the financial disaster that could ensue without proper coverage.