What Is Cyber Liability Insurance?
Cyber liability insurance provides critical protection for law firms against the financial consequences of data breaches, ransomware attacks, and other cyber incidents. As attorneys handle sensitive client information daily, from financial records to privileged communications, your firm is a prime target for cybercriminals.
A single data breach can cost hundreds of thousands of dollars in notification expenses, credit monitoring services, legal defense, and regulatory fines. Beyond the immediate costs, the reputational damage can devastate client relationships built over years of trusted service.
PSL Insurance Group offers cyber policies specifically designed for legal professionals, covering first-party losses like data recovery and business interruption, as well as third-party claims from affected clients and regulatory bodies.
Coverage That Matters for Law Firms
Law firms face unique cyber risks that generic business policies often fail to address. Your cyber liability coverage should protect against:
Data Breach Response: Immediate access to breach response teams, forensic investigators, and notification services when an incident occurs.
Ransomware and Extortion: Coverage for ransom payments and expert negotiators when your systems are held hostage.
Business Interruption: Lost income and extra expenses when cyber incidents prevent you from serving clients.
Regulatory Defense: Legal costs and fines associated with bar complaints and regulatory investigations stemming from cyber incidents.
Why Every Law Firm Needs Cyber Coverage
The legal industry has become one of the most targeted sectors for cyber attacks. Criminals know that law firms hold valuable data and often lack the robust security infrastructure of larger corporations. Consider these risks:
- Client Trust: A breach affecting client data can result in malpractice claims and bar complaints
- Wire Fraud: Business email compromise schemes targeting real estate and corporate transactions
- Compliance Requirements: Many clients now require proof of cyber insurance before engaging counsel
- State Bar Obligations: Ethics rules increasingly address data security responsibilities
PSL Insurance Group helps you meet these challenges with coverage tailored to legal practice realities.
