American Hospital Association Exclusively Endorses Chubb’s Cyber Insurance Product for Health Care Organizations
CHICAGO, October 1, 2012 – The American Hospital Association, through its subsidiary AHA Solutions, Inc., has selected the Chubb Group of Insurance
Companies as the preferred provider of cyber liability insurance for its members.
CyberSecurity by ChubbSM for Health Care Organizations provides customized insurance for data breaches, including coverage for legal defense, crisis
management and privacy notification expenses, as well as certain regulatory fines and penalties. CyberSecurity customers may
also receive partial reimbursement for costs associated with retaining cyber loss prevention services from a select group
of consultants, attorneys and vendors. In addition, customers receive complimentary access to Chubb’s eRisk Hub®, an online cyber risk management platform.
“Hospitals take their responsibility to safeguard patient information very seriously as more and more patient information
is stored electronically,” said Anthony J. Burke, president and CEO of AHA Solutions, Inc. “After an extensive due diligence
process, we are endorsing Chubb because of its thorough understanding of health care organizations and their cyber security
vulnerabilities. We look forward to collaborating with Chubb on sharing its knowledge with our members to help prevent data
breaches, as well as providing health care organizations with a tailored insurance product that can help mitigate the financial
and reputational damage that may occur with a data breach.”
Last year, a study by Privacy Rights Clearinghouse revealed that nearly one-third of all reported data breaches in the United
States involved health care organizations. Under the Health Information and Technology for Economic and Clinical Health Act
(HITECH), a health care organization may be fined up to $1.5 million per year for data breaches. In addition, HITECH requires
notification when a breach of protected health information creates a risk of harm to the affected individuals; notification
costs average $214 per record, according to the Ponemon Institute, an independent research organization.
“Health care providers should be prepared for the inevitable data breach—perhaps, the most significant threat they face today,”
said Kim Holmes, deputy health care product manager for Chubb Specialty Insurance. “The insurance coverage and loss prevention
tools available through CyberSecurity by Chubb—including the only loss prevention reimbursement program available today—can
help organizations comply with increasingly stringent regulations while providing significant protection to their bottom lines.”
AHA Solutions, Inc. awards the AHA endorsement to products and services that help member hospitals and health care organizations
achieve operational excellence. CyberSecurity by Chubb for Health Care Organizations was selected for the AHA endorsement
following an extensive due diligence process that identified it as a leader in providing robust and flexible insurance coverage
options to health care organizations for data breach protection and proactive risk management solutions.
About the American Hospital Association
The American Hospital Association is a not-for-profit association of health care provider organizations and individuals that
are committed to the improvement of health in their communities. The AHA is the national advocate for its members, including
close to 5,000 member hospitals, health systems, other health care organizations, and 42,000 individual members. Founded in
1898, the AHA provides education for health care leaders and is a source of information on health care issues and trends.
About AHA Solutions
AHA Solutions, Inc. is a resource to hospitals pursuing operational excellence. An AHA member service, AHA Solutions collaborates
with hospital leaders and market consultants to conduct product due diligence and identify solutions to hospital challenges
in several operational areas, including finance, human resources, patient flow and technology. AHA Solutions provides related
marketplace analytics and education to support product decision making. As a subsidiary of the AHA, the organization convenes
people with like interests for knowledge-sharing centered on timely information and research. AHA Solutions is proud to reinvest
its profits in the AHA mission: creating healthier communities.
About Chubb
The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property
and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb’s
global network includes branches throughout North America, Europe, Latin America, Asia and Australia. For more information,
visit www.chubb.com.
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