September 28, 2011

Are you out of balance?

The risks of digital data have out-paced controls

At our website www.oneminutefromnormal.com we ask visitors the question: What if an unscheduled event suddenly seizes control of your business? Are you ready?

A recent survey by Pricewaterhouse Coopers LLP found that although hospitals, doctors, pharmacies and insurers are eager to adapt to increasingly digital patient data, less than half are addressing implications for privacy and security. Less than half have also addressed issues related to mobile devices, while less than a quarter have addressed issues related to social media.

Since 74% of healthcare organizations are planning to increase their usage of electronic patient health data, this imbalance can threaten these businesses in the event of a data breach.

At KMRD Partners, we are not in the business of advising our clients on information management. We are in the business of helping our clients to assess and transfer risk. When we see a spike in risk that has not been offset by risk transference, we recommend corrective measures.

Chances are that even for those companies that are not healthcare organizations, privacy and security safeguards have not offset increased usage of digital data. What’s more, the potential for privacy and security breaches has not been matched by proper insurance coverage. This does not have to be the case – effective, affordable coverage solutions are available. Our risk management specialists are available to meet with your firm to address any imbalances.

KMRD Partners provides effective risk management consulting and property & casualty insurance to protect against potentially catastrophic losses that wait on the other side of one minute from normal.  We are dedicated to anticipating risk and helping firms recover from unplanned events.

To identify and correct coverage and service gaps in your insurance contact us at contactus@kmrdpartners.com before one minute from normal strikes your company.

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KMRD Partners | 2600 Kelly Road, Suite 300 Warrington, PA 18976