The rise of cybercrime and the need for cyber ransom liability insurance

The increasing threat of cyberattacks in the healthcare industry has led to a surge in the popularity of cyber ransom liability insurance. However, there is currently no standard form for this type of insurance, and companies need to carefully read their policy to ensure it covers their specific needs. Factors to consider include coverage dates, the limit of the policy, and whether it covers third-parties. Other risks to consider include failing to meet a standard of care, malpractice claims, and the impact on patient data and privacy.