As cyberattacks and insurance costs grow, time is right for accreditation | Viewpoint

Accreditation and certification programs can help organizations address gaps and demonstrate to other providers, partners, and insurers that they are serious about protecting healthcare data.

Is there an upper limit on the cost of cybersecurity insurance? If the past few years is any indication, the answer is a firm “no.”

According to one study of insurers, the cost of cyber insurance skyrocketed 130% in Q4 2021, and 82% expect premiums to continue to rise over the next two years. A proliferation of high-profile ransomware cases certainly plays a role, as does a lack of experiential data among insurance companies, a dearth of cybersecurity professionals, and the sheer number of access points that could be vulnerable to attack.

To read the full article, visit Chief Healthcare Executive.