The healthcare industry is facing an increasing threat from cyberattacks, as the world becomes more digitized. Healthcare organizations are finding themselves under siege from cyberthreats and are turning to cyber insurance for protection. Cyber insurance plays a crucial role in fortifying the resilience of the healthcare industry.
“There’s a variety of organizations that make up the healthcare industry, and the threats and the opportunities are different for each,” said Taylor Lehmann, Director of the Office of the Chief Information Security Officer at Google. Cyber threats in healthcare are constantly evolving, and different sectors within the industry face diverse threats.
Hospital systems have become prime targets for cyberattacks due to digital extortion and ransomware attacks. Attackers exploit the critical nature of healthcare and leverage the potential harm to patients for ransom payments. Legacy infrastructure in healthcare organizations also makes them vulnerable targets.
Health insurance companies, med tech companies, and pharmaceutical companies are also lucrative targets due to the financial and intellectual property they possess. Nation-states and competitors seek to gain access to valuable research and development data. The healthcare industry is susceptible due to its importance to the safety of society as a whole.
Cyber insurance forms part of a holistic risk management strategy for healthcare providers. It helps safeguard them from financial losses and mitigates the severity of cyber incidents. Cyber insurance policies often include an incident response panel, providing expert support in responding to cyberattacks.
Google Cloud’s Risk Protection Program aims to simplify the insurance process by providing insurers with risk metrics. This streamlines risk assessment and enhances collaboration between insurers and cybersecurity experts. Education also plays a crucial role in the insurance industry, and Google Cloud’s program focuses on providing education and thought leadership to insurers.
Sources:
– “Healthcare under siege: Google’s Taylor Lehmann and Monica Shokrai on cybersecurity in healthcare” – SiliconANGLE
– “The Evolving Landscape of Cyber Insurance in the Healthcare Industry” – The Cube
