Policyholder Services

What does Cyber Liability insurance cover?

With the move to electronic medical records it is becoming more important to protect your data. Cyber Liability (called eMD in OMIC’s policy) covers the following exposures:

Privacy Violations – Reimburses for fines and penalties associated with breach of federal state or local statutes related to personal medical or financial information including HIPPA, Gramm-Leach-Billey Act, HITECH, FTC and Fair Credit Reporting Act. Also responds to general allegations by patients of violations or release of their private information.

Network Security – Reimburses damages related to inadvertent transmission of harmful viruses, unauthorized access to sensitive information stored on computer systems, prevention of authorized access to computer systems, and failure to prevent identity theft or credit/debit card fraud. Data Interference – Reimburses for damage to sensitive data you maintain through intrusion of computer systems and electronic communication devices without your knowledge, whether intentional, malicious, reckless or negligent.

Patient Notification – Reimburses for costs related to patient notification of privacy breaches, including all reasonable legal, public relations, advertising, IT forensic, call center, credit monitoring and postage expenses incurred.

Data Recovery – Reimburses all reasonable and necessary expenses required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted.

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A-rated by AM Best, OMIC is ranked #1 among 50 malpractice insurance companies in America for financial stability. No other carrier has matched OMIC's consistent financial performance with regard to both combined and operating ratios, the two most relevant financial measurements for an insurance carrier.