The cyber insurance market has exploded in recent years, from approximately $600 million in premiums paid in 2010, to over $2 billion in 2016. It’s no coincidence that this period of rapid growth coincides with the passage of the HITECH Act in 2009, which ushered in a new area of HIPAA enforcement, including stiffer fines for violations. It’s also no coincidence that cyberattacks have been steadily increasing. (more…)
Update, September, 2017
The Pennsylvania Department of Human Services (DHS) is currently in a stay regarding the rollout of new Physical HealthChoices contracts scheduled to begin on January 1, 2018. Bidder protests which were denied by DHS are being appealed to Commonwealth Court. Until those appeals are resolved, all existing Physical Health MCOs will continue to operate in their respective zones.
Pennsylvania’s effort to rebid its Physical HealthChoices agreements has hit a number of snags, as bidders who stand to lose market share have lodged protests against the state. The RFP has now been issued twice, each time yielding different contract awards, as well as formal protests from different potential losers. (more…)