Cyber Liability Coverage
Is your business at risk for cyber threats? Law firms are uniquely exposed to cyber risks. For law firms, a cyber incident can lead to a loss of business, reputational damages, regulatory penalties and client lawsuits.
Kaestner & Berry offers a stand-alone cyber risk policy from SafeLaw. The SafeLaw policy provides the following protection:
Confidentiality, Privacy, Media Liability – Third party legal liability protection for:
- Failure to prevent disclosure of personally identifiable information;
- Failure to prevent transmission of hacker attacks, viruses, or denial of service attacks;
- Copyright infringement, trademark infringement, and defamation arising from the firm’s electronic publishing.
Data Breach Response Expense – First-party coverage for the firm’s expenses following a data breach including access to a panel of data breach responses experts such as I.T. forensics, legal advisers, public relations, victim notification, call center support, credit monitoring, and identity theft remediation.
Electronic Data Restoration Expense – First-party coverage for the firm’s expenses to recreate or restore data, software, or firmware that is corrupted or damaged by a hacker attack, virus, denial of service attack, or administrative errors.
Business Income Loss – First-party coverage for the firm’s lost income and extra expense incurred due to computer system disruption caused by a hacker attach, virus, denial of service attack, or administrative errors.
Cyber Extortion and Ransomware – First-party coverage for the firm’s expenses to mitigate or terminate cyber extortion or ransomware threats.
Cyber Crime (Fraud) – First and third-party coverage for fraudulent funds transfers from the firm’s bank or securities accounts for a client’s bank or securities accounts for which the firm is an authorized custodian due to social engineering or fraudulent use of the firm’s computer system.
Most legal malpractice policies now provide some cyber risk protection. However, most of these malpractice policies offers only limited cyber protection. In order to avoid surprises consider a separate SafeLaw cyber policy. For a quote, please contact Kaestner & Berry for a no obligation quote.