Around one in three law firms in the US maintain some form of cyber liability insurance, according to industry statistics.
A few years ago, the number of cyber-insured firms numbered only in the teens. The growth shows that the legal profession is catching on to what other business sectors figured out long ago – that purchasing cyber liability coverage is a smart move.
Law firms are prime targets for cyber criminals. They know lawyers are entrusted with privileged communications, confidential records, intellectual property, and critical business insights. A cyber incident can result in business interruption, lost clients, reputational damage, regulatory penalties, and lawsuits.
Unfortunately, many firms lack the technical controls to protect and secure their data.
Alta Pro offers two industry-leading, competitively-priced cyber liability products: “SafeLaw” and “CyberProtect.” SafeLaw is for any size law firm, insured with any carrier, and offers the most 1st and 3rd party coverage. CyberProtect is an exclusive cyber liability program available only to Wesco insureds for solo firms up to five member firms.
Click here to learn more or apply for coverage.
As a benefit of a Lawyers Professional Liability Insurance policy underwritten by Alta Professional Insurance Services, policyholders are automatically enrolled in the Alta Pro Lawyers Risk Purchasing Group (Alta Pro RPG). They have access to our exclusive policyholder-only services. The Alta Pro RPG website is intended to be a resource for independent agents, insured attorneys, insured paralegals/staff, and the general public.
10 Reasons You Need SafeLaw
- SafeLaw is a comprehensive cyber risk insurance solution designed exclusively for law firms.
- Coverage is available for firms of up to 150 lawyers, with limits up to $15 million (higher limits available via referral or excess capacity).
- Applying for SafeLaw coverage is quick and easy, with a short, five-question application. Automated underwriting provides a quote in minutes, with same-day policy issuance,
- SafeLaw comes with expert pre-breach risk management tools and services to help mitigate the risk of an incident before it occurs.
- The policy includes coverage for cyber crimes including ransomware, extortion, fraudulent funds transfers, computer fraud, wire transfer losses, telephone toll fraud, social engineering, and reverse social engineering.
- Alta Pro works with specialized underwriters and have the expertise to help you make a complicated product line simple to understand.
* The definition of “insured” includes staff, independent paralegals, contract attorneys, outsourced providers, subsidiaries, contractors, and additional entities required by contract. - Coverage is provided for a firm’s contractual requirements, ethical obligations, and client responsibilities. Coverage is also provided for actions required to comply with cyber privacy laws.
- In the event of an actual or suspected cyber incident, SafeLaw has a nationwide network of technical and legal experts available 24/7. The SafeLaw “Data Breach Hotline” is 855-247-4710. There are additional pre- and post-breach resources on the Breach Navigator.
- Some highlights of the coverage: Privacy security liability (online and offline), regulatory proceeding defense and penalties, attorney service, forensic costs, public relations and crisi management costs, website media content liability, credit and identity monitoring services, coverage for electronic and paper data and third-party corporate information.
- Worldwide coverage.
Click here to learn more or apply for coverage.
Alta Professional Insurance Services Agency, LLC, (Alta Pro) provides innovative, intelligent, professional insurance underwriting, claims, risk management, product development, and sales and marketing services to our clients using state of the art information technology. Alta Pro adheres to the highest standards of ethics and integrity to achieve superior results for our clients. Led by experienced program administrators who know their clients’ insureds and the carriers’ appetites, Alta Pro continues to expand our program offerings across the U.S.
