Law firms are just one email compromise, funds transfer fraud or ransomware attack away from disaster. Out of all the claims resulting from social engineering and fraudulent funds transfer attacks that Coalition receives, 20% are from law firms.
On Big "I" Markets, you can offer Coalition's state-of-the-art cybersecurity resources and best-in-class cyber insurance to your law firm clients.
Coalition's cyber insurance is specifically designed to protect law firms. Coverage includes:
- Funds transfer fraud losses arising from a security failure or social engineering.
- Costs to respond to a ransomware incident.
- Costs to replace computer systems and other technology damaged in a cyberattack.
- Restoration of digital assets, including sensitive client information.
- Fraudulent charges when a criminal actor exploits a cloud or telephony provider.
- Property damage and bodily harm coverage for Internet of Things (IoT) failures.
Lawyers are becoming easier targets for ransomware threats, according to Claims Journal. Coalition helps law firms protect their network and their business by offering a full suite of security applications, including 24/7 security monitoring, automated threat and intelligence alerts, denial-of-service mitigation, security benchmarking, ransomware protection, employee training and patch reminders. All this and more are included with each policy at no additional cost.
When an incident happens, Coalition is the only insurance firm with a dedicated 24/7 incident response and claims team to help law firms quickly respond to an incident. In one case, Coalition's in-house security incident response team recovered $150,000 for a law firm.
Ready to protect your law firm customers? Log in to Big “I" Markets to create a quote in less than four minutes. Contact Carla McGee, your dedicated cyber insurance program manager, if you have any questions or would like to walk through a quote.