Clearwater CEO Bob Chaput Shares Expertise on Insuring Hospital Cyber Risks Through Captives

Business Wire

Newest BOH Episode “Why Manage Cyber Risk though an Insurance Captive” Helps Hospitals Implement Best Practices

NASHVILLE, Tenn.--(BUSINESS WIRE)-- Bob Chaput, CEO of Clearwater Compliance, a top-ranked, award-winning provider of healthcare cyber risk management and compliance solutions, shares his expertise in the newest Business of Healthcare (BOH) episode, “Why Manage Cyber Risk through an Insurance Captive?” on insuring hospital cyber risks through captives.

BOH announced its newest episode designed to help hospital and health system leaders better understand how captive insurance proves to be critical in the ongoing effort to manage and reduce cyber risk. Chaput, along with Rebecca Cady, Vice President and Chief Risk Officer for Children’s National Health System, share their compelling expertise on ways health systems and hospitals can improve cyber risk management, transfer cyber risk, and better identify, manage and avoid cyber risk.

In the new BOH series, Chaput shares expertise on:

• How captives provide financial savings and leadership engagement in managing cyber risk.

• Ways insurance captives have improved risk identification and controls for patient safety risks over the past 20 years.

• Arguments in favor of and against placing cyber risk management into a captive.

• Best organizational cyber risk investments.

Hospitals and health systems use captive insurance as an alternative to commercial carriers for professional liability, property, and workers comp insurance. Over the past 20 years, captives have helped drive a reduction in malpractice claim and catastrophic patient injury, especially in obstetrics and emergency medicine. Large providers are now experimentally using captives for other forms of risk such as employee health plans, managed care contracts, and director and officer exposures. Cyber is a new risk strategic to captive insurance.

To view the interview, visit: http://www.bohseries.com/episodes/20/why-manage-cyber-risk-through-an-insurance-captive.

About Clearwater Compliance

Clearwater Compliance, LLC is a top-ranked, award-winning healthcare cyber risk management and regulatory compliance company. As the leading strategic partner to hospitals & health systems, its mission is to assist in successfully managing health care’s evolving cybersecurity risks, compliance requirements and, ultimately, ensure patient safety. A 2017 Inc. 5000 fastest-growing company, the 2018 Best in KLAS winner in Cybersecurity Advisory Services, exclusively endorsed by the American Hospital Association as well as numerous state Hospital Associations, Clearwater solutions have been deployed within hundreds of hospitals and health systems, Fortune 100 organizations and federal government institutions. More information about Clearwater Compliance is at http://www.Clearwatercompliance.com.

About BOH

Mission and Margin is the business of healthcare. Business of Healthcare (BOH) interviews feature innovations proven to sustainably improve healthcare. Each discussion includes a healthcare executive and innovator concentrating on the same problem. BOH, an editorially-independent and non-partisan media service, publishes its interviews at www.BOHSeries.com.