With the news that Russian hackers have been targeting U.S. and U.K. law firms as part of an insider trading scheme, it’s a good time to recirculate our tips for law firms looking to purchase cyber insurance.
As the Crain’s Chicago Business
story noted, law firms “have largely trailed their clients in confronting the possibility of hackers accessing their networks for illegal profit,” even though they hold “vast repositories of confidential information.”
If your firm does not already have a cyber policy, it’s wise to consider purchasing one. Traditional law firm policies often exclude cyber risks, so you most likely won’t be able to rely on your existing policies to protect you in the event of a data breach or other cyber event.
Amy Stewart Law
works with businesses, including law firms, at every step of the insurance process (from purchase and renewal, to filing insurance coverage claims and dispute resolution). Here are some tips if your firm is embarking on the cyber insurance-purchasing process: