Authored by Sara Weathers

As year-end approaches, law firms should review their cyber insurance coverage to ensure it reflects their current operations and cybersecurity practices.

Changes in staffing, technology, vendors, or the volume of sensitive information can impact your firm’s risk profile. Insurers may also request details about security controls, incident history, and procedures for safeguarding confidential information.

Reviewing these details before renewal helps identify coverage gaps, prepares your firm for the application process, and allows time to address concerns before your policy expires.

Key Areas for Review

1. Coverage limits and policy terms. Review your policy’s limits, deductibles, exclusions, and any sublimits that apply to specific types of losses.

2. Cybersecurity requirements. Confirm your firm meets policy requirements, including multifactor authentication, secure backups, and endpoint protection.

3. Covered incidents and expenses. Evaluate if your policy covers ransomware, data breaches, business interruption, forensic investigations, legal support, and notification expenses, as outlined in the policy.

4. Changes in operations. Consider if your firm has added employees, opened new offices, adopted new technology, or engaged additional vendors.

5. Incident response planning. Ensure your firm knows how to report potential claims, contact response providers, and follow the insurer’s notification requirements.

A proactive review helps your firm understand its coverage and prepare for the year ahead. Starting early allows time to ask questions, evaluate options, and address gaps before renewal.