Is cyberinsurance for cyberattacks becoming harder to find and more costly?

Attorney Jeff Drummond writes:

News from the Cyberinsurance Market: Healthcare entities are finding that cybersecurity insurance is getting harder to find.  Insurers are leaving the market, and prices are going up.  Having cyberinsurance has always been a good call, from the time the insurance first hit the market, because (i) the risk is so hard to quantify, (ii) a really bad incident will undoubtedly bankrupt the company, and (iii) the prices have been so reasonable.  And if you are a business associate, (i) many covered entities require cyberinsurance, and (ii) many business associates use their cyberinsurance to support indemnification and liability caps in their business associate agreements.

Read more at HIPAA Blog.

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