Approximately every 3 ½ seconds a new threat is unleashed by cyber criminals into the online world of the internet. These criminals can range from middle schoolers who vandalize websites to international terrorists who target a country’s defense infrastructure.
Optometrists face increasingly complex information and computer security risks. If you store client confidential information of anything defined as personal identifiable information (PII), cyber criminals have an interest in your stored data files to target, breach and obtain such information.
The Cyber Privacy Liability policy available through Mercer Health & Benefits Administration LLC, has been tailored for Optometrists to provide coverage for damage done to your business as well as third parties.
Answers about the plan, including eligibility, options, enrollment, customer service and more.
If my firm purchases E&O coverage, wouldn’t this policy protect us in the event of a cyber or privacy breach?
This is often a misconception by policyholders and we find that the majority of errors & omissions policies do not cover cyber or privacy breaches. An E&O policy typically limits coverage to claims arising from negligence in the performance of specifically defined services and excludes coverage for criminal or intentional acts of insureds or their employees.
What are my obligations in the event of a breach to report such and to whom?
47 of 50 states, including California, require a breach to be reported to those affected if any personal identifiable information (PII) is leaked. Any company who does not report these breaches is subject to hefty fines and penalties from various state and industry regulators. If you are a firm servicing clients in multiple states, a single breach can be a costly in just legal expenses to translate the requirements of each state's law. Having the proper Cyber Privacy Liability coverage in place can provide assistance and help cover these expenses.
How can I learn more about the insurance products offered by Mercer Health & Benefits Administration LLC and how they can best serve my insurance needs?
For more information or to speak with a Client Representative, please contact our office at 1-800-775-2020.