Cybersecurity is playing a larger—and more expensive—role in law firms’ budgets compared with previous years. However, few law firm client invoices disclose cybersecurity expenses, while only a select number of firms may be successful charging their clients line-item cybersecurity expenses. Still, many firms may indirectly recoup costs by sweeping them into a general overhead expense.
Despite cybersecurity’s growing necessity, not all law firms are recovering cybersecurity costs from clients. According to law firm operations consulting firm Mattern’s “Cost Recovery Survey” released last month, 92% of the nearly 40 Big Law and regional law firms surveyed said they’re not recovering rising cybersecurity expenses from clients. Only 8% said they are considering recouping those costs from clients.
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