The Chubb Group of Insurance Companies has established a program to address the healthcare industry's privacy, information security and other liability risk needs.
More than 1,000 companies supply IT products and services to the healthcare and medical research industries in the United States and Canada, and the sector is poised for additional growth with the allocation of nearly $20 billion in federal stimulus funds for EHRs as well as other investments in the sector, according to the Warren, N.J.-based company.
Chubb's integrated liability program can protect health IT companies from:
- General and products liability from software or hardware that is defective or contains inaccurate or incomplete information that causes or contributes to patient injuries;
- Errors and omission liability when a product defect or service deficiency results in economic injury to a customer;
- Third-party liability to patients, healthcare providers and others associated with database security breaches; and
- Costs incurred to comply with state, federal and foreign laws requiring companies to notify consumers of a privacy data breach.