Last month, St. Margaret鈥檚 Health, a hospital in Spring Valley, Illinois, was forced to . They attribute the closure in part to a . The rural hospital had been struggling to stay afloat amidst the Covid-19 pandemic and staff shortages, and the ransomware attack crippled their operations beyond the point of recovery. The attack completely shut down all of St. Margaret鈥檚 Health鈥檚 computer systems, including email and patient portals, and, for months, were unable to submit claims to insurers, Medicare, or Medicaid.聽
St. Margaret鈥檚 Health is just one of the many healthcare facilities hit by ransomware attacks annually. In recent years, healthcare ransomware attacks have risen dramatically. In 2022 alone, an estimated were victims of ransomware attacks, resulting in leaked personal data, compromised patient care, and significant financial losses.聽
According to researchers at the University of Minnesota and University of Florida, the facilities most likely to be impacted by ransomware attacks are clinics, hospitals (like St. Margaret鈥檚), delivery organizations, and ambulatory centers. During a cyberattack, the attackers breach an organization鈥檚 computer systems and hold them 鈥渉ostage,鈥 preventing the organization from doing vital, everyday tasks 鈥 like processing payments, accessing patient records, dispensing medication, or managing appointments.聽
On average, the downtime from a ransomware attack is . During that time, patients are unable to receive the care they need. Facilities may be forced to delay elective surgeries or scramble to reschedule patients to neighboring facilities. In the case of a rural hospital like St. Margaret鈥檚, however, patients may not have many other options. The scheduling delays or time it takes to travel to another healthcare facility could be detrimental. , Melanie Malooley-Thompson, the closure of St. Margaret鈥檚 could mean some city residents will need to travel up to 30 minutes to reach another emergency room.聽
As healthcare cybersecurity concerns continue to , it鈥檚 more important than ever that healthcare facilities implement strong cybersecurity controls and practices, including securing adequate insurance coverage. Cyber liability insurance can alleviate the devastating costs of a ransomware attack by offering coverage for business interruptions, data loss recovery, incident investigation, ransom demands, and more.聽
When it comes to cyber liability, there鈥檚 a lot at stake 鈥 both in terms of finances and patient care. 麻豆放映免费鈥檚 National Practice Leader of Professional Lines, the importance of retail agents partnering with a specialized professional lines wholesaler:
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