Last week, the U.S. Department of Health and Human Services’ Office of Civil Rights (OCR) took action against Catholic Health Care Services for a 2014 breach that resulted from the theft of an iPhone. OCR’s actions included a $650,000 fine and corrective action requirements. See Catholic Organization Hit With $650,000 HIPAA Fine for Data Breach for the full story.
The risk of data breach is prevalent across all industries, and organizations of all types and sizes could be subject to regulatory fines or penalties if they experience a breach. It is important for organizations to understand their cyber risk exposures and work to make the necessary improvements before a breach occurs.
Solutions such as Loss Mitigation Services help policyholders understand cyber and privacy exposures and work to reduce the likelihood and impact of a cyber or data privacy incident using early detection and remediation of cyber exposures. RCM&D works with a variety of carrier partners to provide these customized solutions at preferred rates.