Preventing Financial Catastrophe with Cyber Insurance – Peter Halprin Interviewed by Modern Healthcare

An increasing number of healthcare organizations are falling prey to cyberattacks and financial losses can reach hundreds of millions of dollars depending on the system’s size, how long the network is compromised and whether a ransom payment is made. As these attacks become more sophisticated, it’s more important than ever for healthcare organizations to put the necessary protections in place.

In an interview with Modern Healthcare, Partner Peter Halprin explained that investing in cyber insurance is one way to prevent financial catastrophe. “Healthcare organizations can file claims to cover lost operating revenue and ransomware payments, plus the costs of working with vendors such as ransomware negotiators and privacy counsel to navigate the crisis,” he commented.

Read the full article here.

Halprin represents commercial policyholders in complex insurance coverage matters with an increasing focus on recovery strategies in relation to cyber breaches and cybercrime. He has helped clients pursue insurance coverage for business e-mail compromise schemes, cybercrimes, data breaches, fraudulent e-mails, invoice manipulation schemes, phishing and whaling attacks, ransomware attacks, privacy and statutory liability, and technology E&O disputes. Halprin is a Faculty Member with the Global Cyber Institute and received a Harvard VPAL certificate for completing “Cybersecurity: Managing Risk in the Information Age.”