Hi all,
I developed an app for my small medical practice. Without going into much detail, it has solved a few critical issues we've had with patient data and safety information. A clinical department at a nearby medical school has expressed interest in a trial of my software.
This isn't something I expect will make me money, but definitely solves a critical need. Since this involves storage of protected health information, I would like to make sure that I am protecting myself in care of a data breach. I've read a little bit about cyber insurance, but all of the info on the web seems to be either geared towards larger institutions, or just PR. Does anyone have any information about cyber insurance, whether it's something that could apply in my situation?
You can definitely purchase Cyber liability insurance to protect against data security issues for your small product.
It wouldn't hurt to get in touch with a sophisticated insurance broker to speak with them about your options.
If you really want more information give me your email and I'll reach out. I am in the insurance industry and used to work for a major global broker. I could probably put you in touch with someone.
Sam - in the industry myself. Lot of questions to be answered about the venture before figuring out if and what you need. Often times the information holder (i.e. the app) is holding for a third party (the hospital). Depending on the arrangement with the hospital - you may be covered under the hospitals Cyber insurance. Happy to help or as mention by tbon many great partners in the brokerage community to assess need and take you out to market.
email is pa16smit@gmail.com
At least that's what I've always believed when it comes to E&O insurance for small companies working on high value projects, even if you carry 2-3M of insurance, if the fuck up resulted in a higher loss, won't they just go after your assets beyond what the insurance paid for?