Following the unprecedented issues of 2020 & 2021 that saw many law firms scrambling to send all employees to work from home, did we set ourselves up for cyber attacks unknowingly?
When you consider all employees accessing your firm network, documents, contacts, etc. from less secure home internet or public connections, it is not surprising that cyber-attacks are rising. These assaults come in many forms, including:
Ransomware attacks – hackers lock files or devices demanding cash payment for the release
Phishing attacks – malicious links in an email that can lead to identity theft, compromise of PII (personally identifiable information), and financial loss
Data breaches – confidential data is stolen or exposed
Wire fraud – the employee is tricked into sending money to a scammer
Total system failure – shutdown of the network
Due to the increasing number and effectiveness of cyberattacks, many insurance carriers now exclude cyber events from general liability and professional liability policies.
Many experts agree that now is the time to review your firm’s coverage and consider additional endorsements or perhaps even a cyber liability insurance policy for your firm - - - BEFORE your law firm experiences an attack.