Policyholder Services

What is covered by the Broad Regulatory and Cyber/e-MD Protection benefit included in OMIC’s Policy?

Ophthalmic Mutual Insurance Company (OMIC) provides its Insureds with a combined $100,000 limit of Broad Regulatory Protection and Cyber/e-MD Protection as an additional benefit to their professional liability policy issued by OMIC. No application is required and there is no deductible for any benefits included under the combined $100,000 limit.

The following benefits are included:

Broad Regulatory Protection is an innovative reimbursement insurance benefit designed to address medical regulatory exposures such as billing errors proceedings brought by government entities or private payers and DEA, HIPAA, EMTALA and Stark proceedings. Broad Regulatory Protection also covers certain licensing proceedings and peer reviews.

Cyber/e-MD Protection provides comprehensive data security and privacy coverage for first party losses and third-party liability claims, including:

Multimedia Liability resulting from the dissemination of online or offline media material, including claims alleging copyright/trademark infringement, libel, slander, plagiarism or personal injury.

Security and Privacy Liability resulting from a security breach or privacy breach, including failure to safeguard electronic or non-electronic confidential information.

Security Privacy Regulatory Defense and Penalties including fines, penalties, and/or regulatory compensatory awards incurred in privacy regulatory proceedings/ investigations brought by federal, state, local, or foreign governmental agencies.

Security and Privacy Breach Response Costs, Notification Expense, and Support and Credit Monitoring Expenses for reasonable and necessary mitigation costs and expenses incurred as a result of a privacy breach, security breach or adverse media report.

Network Asset Protection for costs to recover and/or replace electronic data that is compromised, damaged, lost, erased or corrupted due to (1) accidental damage or destruction of electronic media or computer hardware, (2) administrative or operational mistakes in the handling of electronic data, or (3) computer crime/attacks including malicious code and denial of service attacks. Coverage also extends to business income loss and interruption expenses incurred as a result of a total or partial interruption of the Insured’s computer system directly caused by any of the above events.

Cyber Extortion expenses incurred and extortion monies paid as a direct result of a credible cyber extortion threat.

Cyber Terrorism including loss of business income and interruption expenses incurred as a direct result of a total or partial interruption of the Insured’s computer system due to an act of cyber terrorism.

BrandGuard® for loss of business income incurred as a direct result of an adverse media report or notification to affected individuals following a security breach or privacy breach.

PCI DSS Assessment Liability for assessments, fines, or penalties imposed by banks or credit card companies due to non-compliance with the Payment Card Industry Data Security Standard (PCI DSS) or payment card company rules.

Please refer to the Broad Regulatory Protection and e-MD Protection sections of your OMIC Professional Liability policy booklet for further details.

Are higher limits available?

Yes, OMIC has partnered with Tokio Marine HCC – Cyber & Professional Lines Group to provide administrative services and provide claim services for both the OMIC benefit and additional coverage purchased to supplement the OMIC-provided $100,000 limit. $50,000 or $100,000 limits are available via master policy, and $1,000,000 limits are available via stand-alone policy. All additional coverage is underwritten by Tokio Marine HCC and subject to a fully completed application.

To Purchase additional coverage, please contact Dana Pollard Carulli, CIC.