In addition to deep medical expertise and acumen, Physicians today also require awareness and knowledge in areas such as practice administration, reputation management, data integrity risks and much more. NORCAL Mutual Insurance Company, which insures more than 17,000 physicians and health care professionals in California, acknowledges these changing trends in its newest policy. The new NORCAL Mutual Health Care Professionals (HCP) policy, now available in California, covers physicians for medical incidents, administrative liability and cyber liability risks, including cyber terrorism, cyber extortion, denial of service attacks and data recovery costs.
“NORCAL Mutual recognizes the changing environment that our physicians work in today and has built a policy that addresses these risks,” said Ron Rumin, chief business development officer for NORCAL Mutual. “We are proud to provide increased limits of coverage for cyber liability and to be able to offer greater premium discounts for those with excellent claims experience.”
NORCAL Mutual has been protecting medical practices in California for nearly 40 years and continually reviews its coverage offerings to ensure the needs of the changing landscape of medicine are met. One of the largest threats to a medical practice today is data breaches. According to a recent report released by the Identity Theft Resource Center, 78.4% of all compromised records in 2015 were medical or healthcare records—more than 100 million records. The new Information and Network Security coverage available with the NORCAL Mutual HCP policies includes one of the industry’s highest coverage limits for data breaches of online and offline information.
