In part, on account of the virus, cyber risk claims have increased in frequency and severity. Ransomware claims are up over 725% in the last eight months and show no signs of slowing down. Law firms are primary targets for Ransomware/extortion criminal syndicates. In light of deteriorating claims experience, most cyber risk insurers are implementing extensive changes to their cyber risk programs and policies across all industry classes and segments. Prices are expected to increase slightly.  

We are in a unique position because we only service law firm clients, and so our efforts focus solely on law firm risks. This allows us to best serve our clients. Contact Kaestner & Berry if you do not have a cyber policy to protect your firm in the event of cyber claims.