Cyber Insurance for Law Firms: Skyrocketing Prices and Less Coverage

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Cyber Insurance for Law Firms: Skyrocketing Prices and Less Coverage

If you have recently renewed your cyber insurance policy, then you know how challenging that can be. If you haven’t renewed, the best advice is to start well in advance of the policy expiration date.

If you’ve struggled to afford cyber insurance, you’re not alone. In the past year, prices rose by 30 to 40 percent, and some law firms, especially solos and small firms, were forced to cancel or downgrade coverage in the wake of sudden price hikes. Additionally, inadequate cybersecurity in a firm may lead to a denial of coverage altogether. So, what’s going on? In this edition of the Digital Edge podcast, Cyber Insurance for Law Firms: Skyrocketing Prices and Less Coverage, Sharon Nelson and Jim Calloway talk with Judy Selby to get a handle on the rapid changes in the cyber insurance industry and what firms should do to maintain coverage in this difficult market. Judy has extensive knowledge of technology tools and insurance coverage. You will want to listen to this podcast before beginning to negotiate a renewal.