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Kirk Nahra Discusses Cyber Insurance Discounts for CSF-Certified Health Care Providers
Kirk J. Nahra, chair of Wiley Rein’s Privacy Practice and co-chair of the Health Care Practice, was quoted in a HealthcareInfoSecurity.com article about a cyber insurer that is offering premium discounts of up to 30% to health care organizations that are certified to meet the requirements of the Health Information Trust Alliance’s (HITRUST) Common Security Framework (CSF).
HITRUST CSF is a risk and compliance management framework designed for any organization that creates, accesses, stores, or exchanges personal health and financial information. According to the article, the framework leverages nationally and internationally accepted standards, including those established under the Health Insurance Portability and Accountability Act, to ensure a comprehensive set of baseline security controls.
“The cyber insurance industry is a hotly competitive market at this time, with significant pressures because there isn’t the same volume of data about these costs as there are in many other aspects of the insurance industry,” said Mr. Nahra. “So, companies are looking for good ways to evaluate risks from their clients or potential clients.”
By using the HITRUST framework, Mr. Nahra said, “insurers can find a way to standardize their risk evaluation, and potential insureds can both improve their overall practices and get better rates for this coverage. It is to everyone’s benefit to make this approach more broadly available and more broadly used.”
To read the complete article, please click here.