Solicitors' cyber insurance—a practical guide

Produced in partnership with Lockton Companies insurance brokers
Practice notes

Solicitors' cyber insurance—a practical guide

Produced in partnership with Lockton Companies insurance brokers

Practice notes
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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.

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

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Jurisdiction(s):
United Kingdom
Key definition:
Confidential information definition
What does Confidential information mean?

Information provided to the council by a government department upon terms forbidding its public disclosure and information prohibited from public disclosure by statute or court order (section 100A(3) Local Government Act 1972).

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