With data breaches making daily headlines, cyber risk management is top of mind for nearly all businesses. Not surprisingly, data and systems security concerns are prompting more businesses to consider purchasing cyber insurance, a policy specifically designed to shift the risk of a data breach or other cyber event to an insurance company.
Law firms are no exception. As the cyber insurance market grows, traditional policies are more likely to exclude cyber risks, requiring firms to make decisions about whether to buy cyber coverage. Here are a few tips to help law firms navigate the new universe of cyber insurance.
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