In an era of increasing and costly cyber-attacks in health care, physician practices must arm themselves with technical controls as well as internal protections to reduce their risk, according to Michael C. Lamprecht, president of Chicago-based BigData Insure, LLC.
Lamprecht spoke at the LUGPA annual meeting in Chicago in a presentation designed to educate urologists on potential cyber risks and how practices might be affected by a privacy breach, ransomware attack, extended computer system downtime, and similar cyber perils that frequently impact the health care field.
A 20-year veteran of the insurance industry, Lamprecht initially started working with technology and dot-com firms before dedicating himself to a single type of risk, now known as cyber risk. Over the past 25 years, he’s been providing cyber risk management consulting and cyber risk insurance to all types of firms.
He explained that various industries face different cyber risks, and physician practices have increased exposure to certain risks, such as privacy breaches and reputational injury as well as unique exposures, including negative patient outcomes as a result of cyber-attacks.
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