September 12th, 2018

Holding Healthcare to Ransom - Healthcare Industry’s Fight Against Cyberattacks

Posted at 1:00 AM ET

holding-healthcare-to-ransom-cover-image-6Healthcare is one of the industries most vulnerable to cyberattacks. The high stakes – human lives and sensitive data – make healthcare the perfect target for cybercrime.

When a cyberattack occurs, healthcare organizations incur some of the highest financial costs of any industry. According to the study Marsh-Microsoft Global Cyber Risk Perception Survey 2017, more than 70 percent of respondents from the healthcare industry expect that a cyber breach could cost them more than $1 million per case, compared to a cross-industry average of 65 percent of respondents.

Financially-motivated threat actors are the biggest concern for healthcare organizations as three in four cyber attackers target the healthcare industry with financial motivations.

While the risks are real and have been recognized by the industry, many healthcare organizations are challenged to implement a holistic framework, governance, and adequate board oversight on cybersecurity. Healthcare organizations will need to take proactive measures to increase visibility of cyber risk issues within healthcare organizations and distribute cyber risk management responsibility across the firm.

Holding Healthcare to Ransom: Industry Perspectives on Cyber Risks, a new paper from Marsh & McLennan Companies’ Global Risk Center, provides insights and best practices for healthcare organizations on assessing and managing the risks posed by cyberattacks.

Healthcare Target of Increased Cyberattacks

Healthcare & Cyber Risk - The Need to Distribute Cyber Risk Management

Healthcare & Cyber Risk – Quantifying Exposure

Healthcare & Cyber Risk – Cyber Insurance to Manage Exposure

Healthcare & Cyber Risk – Takeaways

Read the full report >>

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