Did you know that 60% of law firms reported an information security incident in the last year1?
Do you have cover in place should your firm suffer a cyber-attack? How would your firm respond to a breach of security?
Specifically designed for Solicitors, Cyber Response Insurance includes a data breach response service to support you in the event of a claim.
Key features of the policy
The QBE Cyber Response Insurance policy provides the following covers as standard:
Data breach notification cover
Covering costs that are associated with dealing with a data protection breach which includes notifying those affected (often within 72 hours) and providing them with ongoing help such as support helplines and ongoing credit monitoring
Cyber, data security and multimedia cover
Protecting you against direct losses due to cyber-crime including court attendance compensation, defence costs, costs and expenses incurred in replacing lost documents
Cyber business interruption cover
Covering financial loss if a cyber- attack prevents you from using your computer systems
Public relations defence costs
Covering costs incurred in engaging with specialist PR and crisis management services
QBE’s eRiskHub portal
Get access to QBE’s eRiskHub portal which contains information and technical resources that can assist you in the prevention of network, cyber and privacy losses
*Based on a firm requiring £100,000 of coverage with annual revenue of less than £500,000. Premium includes Insurance Premium Tax (IPT). Premium excludes £25 administration fee
1'The cyber threat to UK legal sector' 2018 report, National Cyber Security Centre, ww.ncsc.gov.uk/legalthreat
QBE Cyber Response is arranged by Aon UK Limited and underwritten by QBE Insurance (Europe) Limited
Why choose Aon as your insurance broker?
- You’ll be assigned a dedicated client manager, who will be there to assist you from start to finish
- Free access to extensive resources through our Quality Assurance Risk Management Portal. This would provide you with
- Precedent document templates
- Self-assessment tools
- Webinars on a variety of operational and risk management topics
- Access to the latest Risk Matters newsletters and archive
- Aon is one of the UK’s largest insurance brokers ranked 3rd(by brokerage) by Insurance Times in their 2018 report (August 2018)
- Aon was awarded Cyber Brokerage of the Year at this year’s Insurance Insider Cyber Rankings Awards (September 2018)
Frequently asked questions
How does this policy compare to other insurance policies I have in place?
Certain other policies may include some cover for cyber liability. Your existing professional indemnity policy covers as standard civil liability to third parties and associated defence costs arising out of the provision of private legal practice. This will not usually cover crisis expense, extra expense, lost income and regulatory fines.
There may be elements of cover under an office and computer insurance, legal expenses, Directors & Officers or management liability or trustees’ indemnity insurance. These may only cover part of the risk, be limited in coverage, and generally have low inner limits of cover.
In view of the piecemeal nature of most cyber liability insurance cover, we are able to arrange this insurance which is designed to provide specific cover against data & privacy and related cyber exposures.
In the event of dual insurance between this Cyber Response Insurance policy and another policy, this policy will provide cover (subject to its terms and conditions and policy limits) in excess of the limits of the other policy.
For more information on what Cyber Insurance may or may not cover click here.
Is there a regulatory requirement to have cover?
Regulatory exposure is also an important consideration as outlined in Chapter 4: Confidentiality and disclosure, of the outcomes-focused Code of Conduct. Click here for more information on this from the SRA.
Where can I find more information about cyber-attacks on legal firms and how firms can avoid attacks?
The Law Society’s webpage provides material on how to avoid attacks and brings together useful information and articles on cyber security, click here for more information available from The Law Society.
The following exclusions apply under the policy:
Any claim, liability, loss or defence costs arising directly or indirectly in North America
Any claim, liability, loss or defence costs arising from existing claims
No cover for Fines, Penalties, Liquated Damages and contractual penalties other than those covered under Regulatory Defence and Penalty Costs cover
The policy is designed to cater for solicitor firms in England and Wales who are partnerships or incorporated bodies, with a total gross revenue of £20,000,000 or less, who wish to consider protection cover against data & privacy and related cyber exposures such as hacking, loss of information and crisis management, as well as Public Relations cover following a loss.
If your practice does not fit the above criteria, or the limits are insufficient for your requirements, then we would be pleased to discuss alternative options available. If you require more detailed information, please contact us.
In the event of a claim, please contact QBE.
Notice should be given in writing to:
30 Fenchurch Street
London, EC3M 3BD
Tel: +44 (0) 20 7105 4000
Fax: +44 (0) 20 7105 4032