The Betterley Report - Cyber Insurance for Healthcare

Specialty Lines

About This Product

This report provides an overview of the market conditions and coverage trends related to cyber and privacy insurance for healthcare organizations. The sensitive and valuable nature of the medical records and other information stored by healthcare organizations has made the industry a frequent target of data breaches and other cyber threats, causing insurers' coverage offerings to evolve at a breakneck pace. This report not only helps readers better understand the cyber exposures faced by healthcare organizations, but it also provides incomparably detailed side-by-side comparisons of the leading insurers writing coverage for this segment.

Researched by Rick Betterley, a leading consultant on specialty lines insurance products, The Betterley Report is a series of highly acclaimed market survey reports on six key commercial lines insurance products, including cyber risk, employment practices liability insurance, and technology errors and omissions. Subscribers will receive the complete report(s) filled with 50–175 pages containing exhibits of the critical differences in insurers' coverage, market focus, capacity, and value-added risk management services.

IRMI features six individual Betterley Reports created by Mr. Betterley and his team. Reports can be purchased individually or bundled together at a discounted rate.

Each report contains the following.

  • Identifies the leading insurers for the product being reviewed, including complete contact information
  • Describes the types of insureds that each insurer is most interested in and those in which they have no interest
  • Contains detailed policy comparison charts citing the key differences in their policies
  • Examines claims experience and pricing trends
  • Analyzes the state of the market and what is driving it
  • Identifies value-added risk management services offered by the insurers for a given line of insurance

Individual Subscription

$12.41 per month (billed annually)

One Year Subscription

$33.00 per month (billed monthly)

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Provide your entire team access to IRMI resources with a package customized to meet your needs.

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Product Description

The "Cyber Insurance for Healthcare Market Survey" edition of The Betterley Report compares and contrasts the options available in the insurance marketplace and sheds light on the specific knowledge that can help any risk management and insurance professional better address the cyber and privacy exposures of healthcare organizations

Following a general overview of the state of the cyber and privacy insurance market for healthcare organizations, the report dives into the trademark feature offered in each edition of The Betterley Report: incomparably detailed charts comparing the leading cyber and privacy liability insurers writing healthcare organizations. These comparison charts allow readers to see how each of the insurers stacks up with the others in terms of:

  • Contact and Product Information
  • Product Description
  • Market Focus—Healthcare Organizations
  • Market Focus—Managed Care Organizations
  • Capacity, Deductibles, Coinsurance, and Agent Access
  • Data Privacy: Types of Coverage and Limits Available
  • Data Privacy: Regulatory and Statutory Coverage Provided
  • Data Privacy: Payment Card Industry Coverage Provided
  • Data Privacy: Coverage Triggers
  • Data Privacy: Types of Data Covered
  • Data Privacy: Remediation Costs Covered
  • Data Privacy: Remediation Coverage Services
  • Coverage Extensions and (Sub)Limits Available for Cyber Insureds—Media Liability
  • Security Assessment by Third-Party Requirements
  • First-Party Coverage: Direct Damage and Business Interruption
  • Coverage for Loss Resulting from State-Sponsored or Terrorist Act
  • Theft (First-Party) Coverage
  • Theft (First-Party) Coverage—Deceptive Funds Transfer or Social Engineering
  • Extortion Ransomware Coverage
  • Third-Party Coverage: Bodily Injury and Property Damage
  • Third-Party Coverage
  • Claims Reporting, Extended Reporting Period, Selection of Counsel, Consent To Settle
  • Prior Acts
  • Coverage Territory
  • Exclusions
  • Risk Management Services

Benefits to You

  • Find the best fit for your client by learning exactly what types of insureds each of the major insurers prefers writing, as well as the best way to contact each insurer. Some insurers prefer small companies, some prefer large companies, and some prefer companies in certain industry segments—save time and effort during the placement process by familiarizing yourself with this information beforehand.
  • Identify, eliminate, or avoid coverage gaps with coverage comparison charts.
  • Research competitors with quick policy comparisons.
  • Keep up with year-to-year trends in policy form development.
  • Identify markets and match them up to your clients' needs.

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