This presentation is a recording of a web event given on 8/10/2021 by Clearwater’s CFO, Baxter Lee and Kevin Hewgley, a Vice President with insurance broker Lockton
The rise in successful ransomware attacks on healthcare organizations has had huge ripple effects on the cyber insurance market. Wrestling with higher costs and more risk, insurers are tightening standards, boosting prices and slashing how much they’re willing to pay for a breach.
Recent reports have indicated that, on average, organizations paid 35% more for cyber coverage in the first quarter of 2021 than they did in the same period last year. At the same time, insurers are asking tougher questions about security measures as part of their underwriting process and requiring clients to employ certain controls.
During this webinar, Clearwater CFO Baxter Lee will be joined by Kevin Hewgley, a Vice President with insurance broker Lockton, for a discussion of how the cyber insurance market is evolving and the impacts of these changes on healthcare organizations. They will review specific market trends and provide insight on steps your organization should take to minimize the potential for a dramatic change in premium cost and coverage at your next renewal.