Digital Health
Insurance 

Digital health solutions require data exchange among solution providers, hospitals, and health providers, increasing exposure to cyber-attacks and data breaches. Healthcare is one of the riskier industries because it concentrates a large amount of protected health information (PHI) and has to comply with strict regulations like HIPAA.

We partner with CFC Underwriting and Lloyd's of London to assist entrepreneurs in protecting digital health solutions and healthcare providers in adopting them with insurance solutions beyond data breach liabilities.

Digital Health Specialty Insurance combines Cyber, Professional, and General liability in one policy, giving you peace of mind for complex claims such as Medical malpractices arising from the adoption of Artificial Intelligence to diagnose cancer or the malfunction of wearables to monitor the elderly in emergencies for example. 

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As technology becomes more integrated in the delivery of healthcare services, the origin of the claim and, therefore, which insurance policy should respond to the incident are becoming increasingly complex. Traditional medical malpractice policies may be outdated without affirmative bodily injury coverage triggered by tech. One example is remote patient monitoring technology, designed to alert patients to emergency failure. In that case, it's good to be covered by a policy that leaves no doubt that it will cover the bodily injury triggered by a technology failure. 

For digital health entrepreneurs, this is a must-have protection because the solution may require the development of software platforms, the implementation of secure communication networks, and innovative end-to-end technology solutions like the Internet of Things with wearables. This Specialty Insurance includes professional liability, specially designed for technology providers, also called "Tech Errors & Omissions" or "Tech E&O," so if later on, a software vulnerability on your solution is found to be the cause of a cyber incident in your customer, you are covered against potential liabilities for it. The same may happen if your system fails. 

Digital health specialty insurance is also a must-have for health providers, especially as you expand the adoption of telehealth and web applications to collect electronic health records as part of your medical practice. While the primary concern remains the risk of a cyber incident and the costs associated with a cyber attack, including expenses to hire an incident response and forensics team, eventually pay the ransomware and the costs related to business interruption, data breach regulatory penalties, all covered on this Specialty insurance policy, this specialty insurance also covers potential liabilities related to IP infringement in connection with the usage of third-party digital health technology.