Cyber Liability Insurance
Are you and your patients protected in the event of a privacy breach?
For policies issued after January 1st, 2025, MIEC is changing its approach to cyber liability coverage for eligible MIEC members. In collaboration with its longtime reinsurance partner Tokio Marine HCC—Cyber & Professional Lines Group, MIEC will issue cyber liability insurance coverage through a Master Policy written by Tokio Marine HCC. As a healthcare practitioner in an age of rapidly evolving technology, storing sensitive data has become ubiquitous in the delivery of healthcare. As a result, the threat of breach continues to evolve, exposing practitioners to potential liability. Coverage under the TMHCC master policy provides eligible MIEC policyholders Basic Limits of $50,000 in annual aggregate coverage, subject to the Master Policy aggregate limit.*
Additional coverage is available via a separate policy, subject to Tokio Marine HCC underwriting review and approval.
* Master Policy Annual Aggregate Limit: This is a Master Policy written by Tokio Marine HCC, which provides coverage subject to an annual aggregate limit, which is shared by ALL insureds on the policy.
Coverage includes:
- Multimedia Liability
- Security and Privacy Liability
- Privacy Regulatory Defense and Penalties
- PCI DSS Liability
- Breach Event Costs
- System Failure
- Cyber Extortion
- Cyber Crime
- Reward Expenses
- BrandGuard™
- Increased limits available, subject to underwriting approval by Tokio Marine HCC.
FAQs:
Who is my Cyber Liability Insurer?
Currently (2024): MIEC currently insures cyber liability for eligible policyholders via the DataGuard endorsement on your professional liability policy, which is reinsured by TMHCC.
Effective Jan. 1, 2025: TMHCC will be insuring you directly for Basic Limits on a Master Policy, negotiated on behalf of the MIEC membership. You will no longer receive an “endorsement” as part of your renewed MIEC policy, but rather a “certificate of insurance” issued through MIEC on behalf of TMHCC.
How do I report cyber claims?
Currently (2024): Currently all cyber liability claims are initially reported to MIEC but handled by a TMHCC representative.
Effective Jan. 1, 2025: After January 1st, all claims should be reported directly to TMHCC Claims Department.
- Email: cpl.claims@tmhcc.com
- Phone: 888.627.8995
How are premiums and terms & conditions determined?
Currently (2024): Historically, premiums and terms & conditions have been negotiated between MIEC & TMHCC, and subsequently reviewed & approved by state regulators.
Effective Jan. 1, 2025: After January 1st, TMHCC will set premiums, and determine appropriate terms & conditions on the Master Policy.
What are my cyber liability limits?
Currently (2024): Eligible members have a basic limit of $50,000 per claim/aggregate, per individual insured with a separate professional liability limit.
Effective Jan. 1, 2025: After January 1st, TMHCC will provide a limit of $50,000 per MIEC policy that is shared by everyone on the MIEC policy for the policy period.
If you still have questions or would like to learn more about the changes to your DataGuard / Cyber Liability Insurance coverage email us at service@miec.com or call 800.227.4527