TLOMA FINANCE SIG - Cyber Head Winds 2022: the State of the Cyber Insurance Market and its Impact on Law Firms
Cyberattacks on law firms have been on the rise and the results have been devastating. In addition to compromising sensitive client information, a cyberattack can lock down day-to-day operations and incur significant costs. The impact of a cyberattack is concerning not only operationally but also when it comes to insuring against it. For law firms that have recently placed or renewed their cyber liability insurance coverage they will no doubt have experienced the overwhelming requests for information from underwriters and higher premiums - that is if the firm can even get coverage. What has been happening in the cyber insurance market? Why has it been so difficult for law firms to place or renew their coverage?
Join cyber insurance expert and former coverage lawyer Patrick Bourk from HUB International to learn about the state of the cyber insurance market and how it impacts cyber liability insurance for Law Firms. This session will cover:
- A brief overview of cyber liability insurance coverage and why law firms need the coverage
- The current state of the insurance market and how it impacts the placement of coverage for law firms
- What law firms can expect during their insurance underwriting process
- How can law firms prepare for the process of securing their cyber liability insurance
Join us for some interactive conversations!