Thursday, September 21, 2017
   
Insurance Sidebar :: Amy Stewart PC’s Law Blog on Insurance Coverage Issues Minimize

6 Quick Tips for Law Firms in the Market for Cyber Insurance

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:

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Buying cyber insurance can strengthen data security (with a caveat)

Excellent story in today’s Insurance Law360 (subscription required) about yesterday’s cybersecurity hearing at the U.S. House of Representatives' Homeland Security Committee. The hearing was a Cyber Insurance 101 for committee members, with cybersecurity and cyber insurance experts from various companies helping to get members up to speed on the growing risk of data breaches.

One of the main lessons from the hearing was that the mere presence of cyber insurance policies has strengthened data security because they promote “discussions about data security measures across a company's departments.”


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Amy Stewart Law is a boutique law firm that represents policyholders in insurance coverage litigation and bad faith, with an emphasis in directors & officers liability, cyber insurance, fiduciary liability, professional liability and other specialty liability coverages.


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  • insurance coverage litigation
  • bad faith litigation
  • policy interpretation & analysis
  • insurance review & planning advice
  • advice | insurance disputes
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