What is LPLC’s connection with the Marsh/Chubb cyber insurance policy?

Cyber incidents are a growing threat to law practices. In recent years many law firms have experienced cyber incidents such as ransom attacks, denial of service attacks and other network breaches causing business interruption, incident-response costs and reputational damage to firms unable to respond quickly and effectively.

LPLC’s professional indemnity policy covers claims made against the firm for compensation or damages arising from cyber incidents but it does not cover a firm for its own costs to investigate, respond and remediate a cyber incident or for business interruption costs, loss of profits, regulatory fines or penalties, and ransom payments.

With cyber-crime on the rise, many law firms have been looking to buy additional insurance protection beyond LPLC’s professional indemnity policy. There are several commercial insurers offering cyber insurance, but the Marsh/Chubb cyber policy has been tailored to sit alongside LPLC’s professional indemnity policy.

LPLC is not receiving any remuneration in relation to the Marsh/Chubb cyber insurance offering for law firms.