Make your practice cyber secure!
Cyber attack cases are increasing every day.
FDA Services has teamed up with Coalition to offer cyber insurance coverage of up to $1 million through their platform. This coverage can help protect your dental practice from the financial impact of a cyber attack.
If you require higher coverage limits, please don't hesitate to contact FDA Services. You can reach us by phone or text at 850-681-2996, and our team will be happy to assist you with your cyber insurance needs.
What to look for in cyber
- Quick Response Time: When it comes to cyber attacks, time is of the essence. You want an insurance carrier with its own in-house cyber response team to ensure a fast and effective response. Unlike some carriers who use third-party claims handling, which can result in delays of over a week, FDA Services partners with top carriers like Coalition to offer a quick response time to cyber incidents.
- Direct Payment for Ransom: Cyber ransom is one of the most significant types of claims we see, with amounts often reaching six figures or more. With most indemnity policies, you would have to pay the ransom out of pocket and wait for reimbursement from your carrier. However, with Coalition, the cyber insurance recommended by the Florida Dental Association, you can rest assured that they will pay directly for the ransom and handle the negotiations for you.
- Voluntary Notification Costs with No Sublimit: Cyber insurance policies often have sublimits or caps on the notification costs and exclude voluntary notification altogether. However, this can be one of the most expensive aspects of a loss. Notifying all clients and providing free credit monitoring, even for non-affected customers and clients, is crucial to maintain goodwill and prevent potential lawsuits. Coalition understands this and offers voluntary notification costs with no sublimit.
- Funds Transfer Fraud Coverage: Most cyber policies exclude funds transfer to a third party, but this is a type of claim that is rapidly increasing as cyber attacks become more targeted. FDA Services has seen cases where a payroll company was hacked into, and fake employees were set up and paid from the dentist's account. Unfortunately, the dentist's cyber policy did not pay because it did not have funds transfer fraud coverage. This is why it's crucial to have coverage for this type of loss, and Coalition provides it.
With FDA Services and Coalition, you can have peace of mind knowing that you have a comprehensive cyber insurance policy that covers the most common and costly cyber losses.