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Can healthcare providers afford not to have cyber insurance in 2018?

Cyberattacks targeted hospitals and health systems at an alarming pace in 2017 — nearly exceeding the rate of one breach per day. These attacks are more than an operational inconvenience; the legal services, public relation expenses and regulatory fines it takes to recover from data breaches and cyber extortion are extremely costly, especially for small and mid-sized provider groups. As cyber criminals and disgruntled employees attack healthcare organizations at increasing rates, many providers are purchasing cyber insurance policies to ensure they are prepared with the appropriate financial protections and expertise to weather these incidents and preserve their reputation.

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Can healthcare providers afford not to have cyber insurance in 2018?