Cyber attacks are common and damaging for businesses. Yet many businesses do not have a sufficient cyber attack response plan of what to do in the event of a cyber attack. Even with the increasing frequency and cost of cyber incidents, as many as 34% of businesses don’t have a formal response plan applied uniformly across their entire
Law firms and lawyers face risks from doing business online every day. Email communications, digital files, privileged client and business records and sensitive financial transaction information are all attractive to hackers. To stay safe online, it’s important to know the risks, minimize exposure and protect against potential impacts. Here are the top four cyber risks faced by law firms in 2020.
The last few months have been full of uncertainty. Now that things appear to have turned the corner, restrictions are easing and businesses and organizations are preparing to reopen. But returning to offices after COVID-19 itself can seem like a daunting task. A return to normal operations is crucial, but so is managing risk in these uncertain times.
It’s important to be organized.
More and more, scammers are targeting lawyers by sending forged emails to law firms, clients and financial institutions. The scam typically involves a compromised email account, which can be the lawyer’s, the client’s or even the bank’s. Scammers monitor the account to uncover pending transactions, such as a real estate purchase, a loan or the settlement of a lawsuit.
At the appropriate time
At Lockton Affinity, we custom tailor, implement and manage insurance solutions for a wide variety of industries. Along with customized insurance programs, we provide risk management resources, too.
Find your industry below to browse risk management tips that apply to you and your organization.
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In today’s technology-driven economy, companies across all industries store large amount of their clients’ information. Personally Identifiable Information (PII) is extremely valuable for cyber terrorists, and without the proper protection, businesses are prime target for cyber terrorists.
What is Personally
From clear communication to proper documentation, there are many ways you can prevent malpractice claims and subsequent loss at your firm. Follow these loss prevention tips for attorneys to protect your firm.
- Avoid Conflicts of Interest
Allegations of conflict of interest drive both frequency and severity. Watch carefully for conflicts arising from dealings with former or current clients and avoid those arising
The Cyber Breach
Unfortunately, law firms are still regarded as “soft” in the comparative world of cyber targets. Many law firms use systems that are easier to penetrate than those of their more sophisticated clients. This imbalance in technology leaves the law firm as the weakest link in the data chain and an obvious target for cyber criminals.
Further, lawyers, even if employed at
Do you wonder if you really need legal malpractice insurance when you open your law practice? Even if your practice is small and you are extremely diligent in your work or you work in an area where ‘everyone knows everyone’ and you believe that your clients would never sue you, consider the following:
- An estimated 4-17% of lawyers are sued each year.