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PII | Cyber | Crime

Besides negligence error and omissions picked up under the SRA minimum terms and conditions, threats such as cyber-attacks and data breaches are all part and parcel of modern day business risks law firms now face.  In addition to the threat posed by criminals, there are new regulatory obligations which bring with it new risks which need to be protected.

We have created an exclusive and unique product that presents a seamless and interlocking insurance product for the UK legal sector. It incorporates both Cyber and Crime cover with your compulsory SRA PII insurance policy.

It not only protects the interest of your clients, but is designed to protect you as well.  In the event of a data breach or incident, you'll have access to leading forensic experts and specialist advisors, putting your business back on track and minimising the impact to you.

What does it include?

Solicitors Professional Indemnity Insurance & Regulatory Defence Cost Coverage

The quality of your Solicitors Professional Indemnity Insurance underpins your reputation and integrity with your clients.  As a regulatory requirement, it's critical that it performs for you and your practice. As one of the few brokers with a specialist team dedicated to solicitors' PII it's perhaps no surprise that Lockton account for 30% of the insurance premium placed with the top 10 rated insurers.

This product is underwritten by leading insurers who have been working with and insuring law firms in England and Wales since 2006. They have a strong capital base as evidenced by their AA - (“Very Strong'') S&P and A+ (“Superior'”) A.M. Best ratings.

Their vast experience in providing professional indemnity to law firms means they have a significant understanding of the evolving risks law firms face. Working with Lockton they have helped to deliver a solution that enhances the current professional indemnity product they have in place.

Cyber

Cyber-attacks are increasingly becoming the norm, and sadly the odds of you being affected are increasing.

Whether it is a malware attack, a disgruntled employee or simply human error, you need to ensure you have all the processes and procedures in place to deal effectively with the aftermath of a data breach and minimise the damaging and effects to your business.

We are here to provide the protection and peace of mind you ask for. Our focus is to offer both value and assistance in minimising the damage a cyber-attack can have on all businesses, regardless of size.

Included in the cyber coverage:

  • Breach of Privacy
  • Business Interruption
  • Media Risk
  • Malicious Code
  • Cyber Extortion
  • Claims Expenses

Crime

Law firms can be victims of crime without being negligent. A PWC report last year stated that £85m had been 'stolen' from law firms in an 18 month period, with the focus of activity on Fridays.

Crime insurance can protect funds held in the office and client account from both external and internal threats, including cyber related crime.

Access to experts & quick response

Some of our clients have explained to us the stress they feel upon discovery of a hacking incident or loss of client data and then not knowing where to turn. We appreciate the fact that a time critical response is essential and with this policy you effectively have the right experts to hand. Make one call and the expert responders will guide you through the process. They will introduce forensic and security specialists to give you the confidence your information security (InfoSec) is up to scratch. Your reputational risk is protected by Crisis Management and PR along with confidential breach counsel and Legal Advice.

In the event of a breach to your system you simply trigger one fully-integrated policy. We have removed the potential problems and delays that you could be faced with when juggling multiple policies with different insurers. The specialist Incidence Response Team understands the challenges specific to law firms. They will work with you to help understand your security posture and rectify matters quickly and cost-effectively.

To Contact Us By Phone

Our sales and enquiries lines are open 9AM to 5PM, Monday - Friday. We are closed at the weekend and on public holidays. Solicitors Hotline: 0845 050 1471