Both PII and PHI are subject to rules and regulations about how you collect, use and store that information governed by local authorities. If you do not adhere to these rules in the local territories you serve, then you could face regulatory fines and penalties. If sensitive information that you are responsible for is subject to unauthorized access or disclosure, you will most likely have to notify affected individuals of the breach and provide credit monitoring services, also incurring further legal and forensic costs. Not all security breaches stem from malicious third parties. Frequently, it could be as simple as misplacing a company laptop or inadvertently sending an email containing sensitive information to the wrong recipient. Cyber insurance covers a range of costs associated with responding to data breaches, including legal advice, notifying affected individuals and any regulatory fines and penalties that may be incurred. Due to the vast amount of sensitive data stored, healthcare is one of the most targeted industries for cyber attacks, something that is especially true for digital healthcare businesses whose primary business model leverages technology, and data, to operate.