Solicitors' cyber insurance—a practical guide
Produced in partnership with Lockton Companies insurance brokers
Solicitors' cyber insurance—a practical guide

The following Practice Compliance practice note produced in partnership with Lockton Companies insurance brokers provides comprehensive and up to date legal information covering:

  • Solicitors' cyber insurance—a practical guide
  • Cyber-attack examples
  • Scenario 1—malware attack
  • Scenario 2—ransomware
  • Scenario 3—government sponsored cyber attack
  • Cyber insurance
  • What do cyber insurance policies cover?
  • Coverage gaps
  • Looking out for exclusions
  • Asking the right questions
  • More...

Solicitors' cyber insurance—a practical guide

Law firms make attractive targets for cyber criminals and are experiencing an increase in cyber attacks. Legal businesses hold sensitive, personal and confidential information and routinely handle substantial sums of money. This makes law firms attractive to cyber criminals.

Practice Note: Cyber attacks in the professional services sector highlights the vulnerabilities of law firms, provides insights on the reasons behind these vulnerabilities and makes reference to recent case studies. It also gives an introduction into cyber insurance and how such insurance may assist. See also Practice Note: Cybercrime—issues, threats and vulnerabilities.

See also Practice Note: Friday afternoon fraud—cyber threat—law firms, which highlights the very real threat of ‘Friday Afternoon Fraud’.

Managing cyber risk is a daily struggle and as the attacks increase in number, complexity and severity, the potential for major business implications increases exponentially; significant financial, reputational and competitive damage is likely.

Businesses must be adequately prepared to handle a cyber attack. Every business needs to review its cyber-risk profile, taking appropriate steps to identify assets and risk, increase security and, as a final vital piece of the puzzle, consider cyber insurance.

Expert advice and guidance is essential when you make decisions and implement plans to mitigate the reputational damage, law suits and regulatory investigations arising from a data breach. Even the best-prepared firms can struggle to understand the scope of or to comply

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