Cyber Liability Insurance Coverages and Support Must-Haves

Cyber Liability Insurance Coverages and Support Must-Haves

Law firms face daily threats of security breaches that can devastate a firm’s bottom line and reputation. Are you prepared for the inevitable data breach or the day your network is held for ransom? You can be if you have the right Cyber Liability Insurance.

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Cybersecurity Information Fiduciary: What the Heck Is It?

Cybersecurity Information Fiduciary: What the Heck Is It?

Lawyers, accountants, and doctors all fall under the term “information fiduciary” because they collect personal information and have a responsibility to protect that information. They are liable if that information were to fall into someone’s hands that could pose a threat to the individuals they collected it from. The ABA says that Lawyers have an ethical and legal obligation “to develop, implement, and maintain an appropriate cybersecurity program.”

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2016 Cyber Attack Stats and Defense Options

2016 Cyber Attack Stats and Defense Options

The Baker Hostetler Law Firm, a recognized expert on regulatory and legal consequences of Data Breaches, has released its 2016 Data Security Report titled, Is Your Organization Compromise Ready? In the 300 incidents handled by the firm in 2015 phishing, hacking, and malware took the lead, accounting for about 31% of incidents investigated. However, after analyzing the underlying issues that allowed the attacks to succeed, the findings showed that human error was a significant factor over half of the time.

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Does Office Business Insurance Cover a Data Breach?

Does Office Business Insurance Cover a Data Breach?

Not without separate privacy breach or breach response insurance also referred to as Cyber Liability Insurance. So, what does business insurance cover then? The foundation of business insurance is General Liability Coverage. General Liability insurance compensates you for attorneys’ fees, court costs, and settlements or judgments up to your limit of liability.

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Not Having Cyber Liability Insurance: The Real Risk Your Law Firm Takes

Not Having Cyber Liability Insurance: The Real Risk Your Law Firm Takes

An ABA Journal article strongly recommends that law firms take the additional step of purchasing cyber liability insurance, which adds another layer of financial protection in case of a breach. A Cyber Liability Insurer will provide you with the resources to help you identify and address network and system vulnerabilities. The bottom line...Law firms have an ethical and legal obligation to protect the confidential digital information.

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How Much Does Cyber Liability Insurance Cost For a Law Firm?

How Much Does Cyber Liability Insurance Cost For a Law Firm?

Cyber Liability Insurance is completely affordable today with premiums for a $1,000,000 limit costing less than $1,000 for a sole proprietor, up to a 5 member firm with less than $250,000 in annual revenue. 6 or more attorneys up to $5,000,000 in revenue start at a minimum premium of $1,000. Not a lot to pay to protect your professional reputation and provide you with clear direction on how to respond, not if, but when a breach of confidential information occurs.

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Why Cyber Liability Insurance is a Must for Law Firms

Why Cyber Liability Insurance is a Must for Law Firms

In the current information age, law firms routinely store and transmit non-public confidential data. This data can include client, third party or even employee information like Social Security Numbers, credit card numbers, personal identifiable and health information. A data breach can occur as a result of a lost iPad, cell phone, or laptop; a rogue employee, human error, or worse, a coordinated malware attack by hackers intending to hold your computer system and its' data ransom for money. You can attempt to recover from such a breach or take preventative action with a Digital Disaster Recovery Plan.

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