In April, I had the opportunity to attend the Coalition Insurance Cyber Convention Active, and it was one of the most eye-opening cyber events I have attended. Coalition did something bold. They started as a technology company focused on cybersecurity and then chose to sell insurance. Their model brings insurance into the cyber experience, embedding proactive protection directly into business operations.

One of Coalition’s greatest innovations is its proprietary scanning technology. Their system scans insureds’ networks and systems in near real time to detect both existing vulnerabilities and potential threats. If there are any critical or severe technology exposures, the platform alerts the business, offering a rare chance to fix the problem before hackers get in. Unlike traditional insurers who react after a breach, Coalition is actively working to prevent breaches before they happen.

Their commitment to cyber research is serious. Coalition operates honey pots to attract threat actors and continuously scans the dark web to see what cybercriminals are working on. Their insights give them, and their policyholders, a head start against emerging threats.

Emerging Threats: Business Email Compromise and Funds Transfer Fraud

One of the biggest concerns in cybersecurity today is Business Email Compromise (BEC). It is now the leading cause of cyber claims and often leads to funds transfer fraud. Some key statistics shared at the event:

• $35,000 is the average loss from a BEC event.
• $103,000 is the average loss from a funds transfer fraud event.

One compelling real-world example of Coalition’s system involves Change Healthcare. In 2023, Change Healthcare came to Coalition to request a cyber insurance bid. Coalition ran a scan and identified a Citrix system exposed to the internet without multi-factor authentication (MFA) in place. Coalition offered a quote with a contingency that the vulnerability would be closed immediately. Change Healthcare declined both the insurance and the recommendation. In February 2024, Change Healthcare suffered one of the largest cyberattacks in history, with damages exceeding $190 million.

It is a stark reminder that prevention is the real insurance.

In 2024 alone, Coalition stopped more than 614 threats before they could turn into claims.

New Tools for Prevention: Cyber Training for Employees

Recognizing that people are often the weakest link, Coalition now offers employee cyber training add-ons to their policies. For $300 per year for 10 employees, policyholders can access:

• Phishing simulations
• Targeted cybersecurity training
• Compliance assistance

It is a small investment that can prevent a massive loss.

What Every Dental Practice Should Be Doing

Cyberattacks do not just happen to large corporations. Dental practices are increasingly being targeted because they handle high-value patient data and often lack robust security measures.

Here are the steps we strongly recommend:

• Have a written incident response plan: Review it annually with your team.
• Print a copy of your cyber insurance policy: Keep it accessible in case your network is down.
• Train staff: Teach employees to report suspicious clicks immediately.

Password management: Change passwords regularly and make them complex.

Backups: Know how to access backups of daily schedules and critical files.

Vendor communication plan: Pre-identify key contacts like your bank, insurance claims team, and IT provider.

Messaging control: Instruct employees not to speak to the media and have a clear script ready for informing patients if needed.

At FDA Services, we believe cybersecurity success relies on three pillars:

1. Strong IT support
2. HIPAA compliance
3. Comprehensive cyber insurance

How Much Cyber Insurance Do You Need?

Your cyber insurance limits should be at least double your monthly revenue. Ransomware attacks can cripple your cash flow for weeks or months, and the damages often exceed lost revenue alone.

When a breach happens, speed matters. Coalition’s average response time after an incident is just five minutes, a major advantage when the first 72 hours are critical for recovering stolen funds. In fact:

• Coalition successfully negotiates ransomware payments down 60 percent of the time.
• Coalition only pays the ransom 44 percent of the time, with most incidents resolved through negotiation or technical remediation.
• The average ransom demand for Coalition policyholders in 2024 is already around $1.1 million, making professional negotiation essential.

The Importance of Software Updates: Prepare for Windows 11 Now

As part of our ongoing commitment to ensuring the uptime, performance, and security of your practice, we are reaching out to inform you of an important upcoming change. Microsoft will end support for Windows 10 on Oct. 14, 2025, and this change could significantly affect your practice’s technology infrastructure.

Now is the time to start preparing for the transition to Windows 11 to ensure your systems remain secure, efficient, and fully operational. Acting early will protect you from vulnerabilities and position your practice for the future.

What’s happening?

This end-of-life deadline means Microsoft will stop providing security updates or patches for Windows 10. Without these critical updates, your practice could face serious vulnerabilities that may be exploited by cybercriminals, putting patient data and operations at risk.

Why this matters:

• Security risks: Unpatched systems are vulnerable to ransomware, malware, and hacking attempts.
• Competitive advantage: Practices that use up-to-date systems benefit from better patient service, stronger security, and improved operational performance.

The upgrade advantage:

• Increased uptime: Windows 11 improves system performance and reduces disruptions.
• Stronger security: Built-in antivirus protections and advanced security features better protect your systems.
• Enhanced integration: Windows 11 supports the latest dental technologies, including AI-driven diagnostic tools.
• Cost efficiency: Many Windows 10 users qualify for a free Windows 11 license, making upgrades more affordable.

How Sunset Technologies can help:

• Seamless transition: Handling the upgrade with minimal disruption to your practice.
• Remote installation: Most updates can be completed remotely to maintain uptime.
• Proactive planning: Acting early helps avoid last-minute scheduling delays and protects your practice from rising technology costs.

Do not let outdated systems put your practice at risk. Prepare now to protect your uptime, performance and patient data. For assistance, visit www.sunsetsecure.com, email [email protected], or contact your Sunset Client Advisor to schedule your upgrade.

Interested in Coalition Cyber Insurance?

If you are interested in getting a proposal for Coalition cyber insurance, reach out to us or call/ text 850-681-2996.

We are happy to review your current coverage, provide a cyber risk scan, and help ensure you have the right protection in place to keep your practice secure.