AOAExcel
, the American Optometric Association’s member-benefit subsidiary, just launched a cyber liability insurance product designed to protect optometric practices from the financial and reputational losses of cyberattacks.
Through its partnership with Lockton Affinity and support from a leading cyber insurance underwriter, this policy provides AOA members with customized coverage across two competitive price points.
“One of the scariest challenges a practice owner can face is discovering their practice has been targeted by cybercriminals,” said Sam Pierce, OD, AOA past president and chairman of the board for AOAExcel. “We’re proud to present our members with access to this coverage to help ODs protect themselves against the growing trend of cyberattacks.”
Small businesses account for 43% of cyberattacks, according to cybersecurity firm Astra. It’s estimated that over 28% of all data breaches occur in health care, per a 2023 Varonis report. Because patient health data is valuable and only 14% of small businesses are prepared to face a cyberattack, according to Astra, small health care organizations are particularly vulnerable.
With this new cyber liability coverage, the moment an OD suspects a breach they can reach out to the carrier’s extensive network of cyber response professionals who will facilitate cyber incident response protocols for the practice, including investigation into the source of the breach, IT support to repair damage and enhance cybersecurity measures, legally required patient notification and credit and identity monitoring and public relations support.
AOA members can learn more and obtain this world-class Cyber Liability insurance coverage through the AOA Insurance Program by visiting aoainsurancealliance.com/cyber-liability-insurance or calling 888-343-1998.
