New Suite of Small Business Insurance Solutions for ACHCA Members

BALTIMORE, Maryland, March 8 -- The American College of Health Care Administrators issued the following news release:

The American College of Health Care Administrators is pleased to announce a new benefits package to provide ACHCA members with access to a suite of small business insurance solutions including professional liability, business owner's policy and cyber security solutions. These programs are made available through Gallagher Affinity's 360 Coverage Pros platform

* Professional Liability - Professional liability insurance protects professionals from lawsuits that stem from the services they provide. This coverage can protect professionals from a variety of lawsuits, including suits alleging they provided negligent professional services, failed to uphold contractual promises or produced incomplete work.

* Business Owner's Policy - A business owner's policy combines general liability coverage, property coverage and business income insurance into one convenient package. General liability insurance protects a business from claims of bodily injury, associated medical costs and damage to the property. Property liability insurance covers damage to business furniture and equipment and business income insurance compensates for lost earnings a business suffers when it's temporarily unable to operate due to a covered loss.

* Cyber Liability Insurance - Cyber liability insurance provides the critical coverage necessary to help protect a business from the high costs of a cyber-attack or data breach, as well as comply with state and federal regulations and insure against costly fines that can be levied on a company after a breach. The insurance provides coverage for expenses like breach response, credit notification, forensic analysis, public relation consultants and cyber extortion.

"The increase in business threats and cyber-attacks on health care professionals is a growing concern among our members," states ACHCA President & CEO, Bill McGinley. "They are seeking information, resources and solutions to protect themselves from lawsuits, cyber breaches and threats. That's why we've partnered with Gallagher Affinity to offer this valuable suite of business insurance solutions for our members."

Cyber criminals have been increasingly targeting small businesses in recent years, viewing them as easy targets due to their lack of awareness of and preparation for cyber-attacks. In 2015, 71% of all data breaches occurred among companies with fewer than 100 employees. In 2016, small and midsized companies reported a 66% increase in the number of cyber security incidents (PwC's Global State of Information Security Survey).

"The impact of not having business insurance in place to protect against loss can be devastating for a small business," states Scott Reid, National Director of Affinity Insurance Programs for Gallagher Affinity. "With these Cyber Insurance and Compliance Tool programs, ACHCA members now have solutions that help them manage their lawsuit risk, maintain cyber security best practices and mitigate the damage done to their business by a data breach." Other benefits include a dedicated members-only 24/7/365 Breach Response hotline and the ability to point, click and buy insurance in minutes, directly from the ACHCA member website.