The Oklahoma State University Health Sciences Center reported a devastating cyber attack this past week that they recently discovered. According to school officials, on November 7th, third-party hackers infiltrated the network server and gained access to confidential folders that provided medicaid billing information of roughly 280,000 patients.
This hack attack resulted in the hospital having to address the data breach to the press, as well as all of the patients who were effected. Additionally, the hospital hired a forensic investigating firm to help gain insights into how the unauthorized individual or group were able to access and expose the sensitive folders.
Due to the magnitude of this breach, the hospital most likely has taken a HUGE business interruption and reputational harm financial loss. It’s important to note that if this hospital had a strong cyber policy, they would have been able to mitigate lost profits and lost customers. #hackerinsurance
Evolve MGA’s cyber liability insurance policy protects businesses in the event they experience a similar hack attack. Contact us if you want us to reach out to provide information about how you can sell our industry leading cyber policy.