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Healthcare cyber security under the regulatory microscope

By GlobeNewswire,  August 15, 2019, 09:00:00 AM EDT

New York, Aug. 15, 2019 (GLOBE NEWSWIRE) -- Speculation that the Office for Civil Rights (OCR), the federal Health Insurance Portability and Accountability Act (HIPAA) enforcer, may be less active under the current administration has proven untrue. OCR has kept busy over the last year as analysis of OCR's 2018 activity by Beazley's in-house breach response team, Beazley Breach Response (BBR) Services, has revealed.

In the latest Beazley Breach Insights, BBR Services highlights:

  • OCR issued the largest resolution agreement payment to date - $16 million against Anthem in its capacity as a HIPAA business associate.
  • OCR investigations are taking longer to close compared to previous years. Investigations ranged from three to seven years in length for resolution agreements issued in 2018.
  • OCR is actively scrutinizing reports of small breaches for patterns of noncompliant behavior. In issuing its corrective action plans, OCR focused on the lack of policies and procedures for devices and failures to assess the risks involved in device security.

Katherine Keefe, head of BBR Services at Beazley, said: "Post-breach enforcement by OCR makes it imperative for healthcare organizations to ensure their security risk analyses and risk mitigation plans are reviewed regularly and updated. As well as issuing larger fines for major breaches, OCR is investigating smaller scale data breaches than previously. BBR Services strongly recommends that healthcare organizations of all sizes review their cyber security policies, practices and employee training programs and engage their insurer or broker in building a robust HIPAA-compliant risk management program.

Follow this link https://www.beazley.com/news/2019/beazley_breach_insights_august_2019.html to read the full Beazley Breach Insights report including risk management advice for HIPAA covered entities.

Note to editors:

Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America and Asia. Beazley manages six Lloyd's syndicates and in 2018 underwrote gross premiums worldwide of $2,615 million. All Lloyd's syndicates are rated A by A.M. Best.

Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com

Mairi MacDonald
Beazley Group
00 44 (0)207 674 7164

Source: Beazley Group

This article appears in: News Headlines

Referenced Stocks: BEZ

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