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CYBER SECURITY EVENT – IS MY LAW FIRM AT RISK?

Law firm networks are specifically targeted every day for their access to lucrative clientele. You may imagine someone hunched over av keyboard as they quickly “hack” into your network, but cyber-attacks are more like a criminal walking down the street lifting car door handles to see who has left their car unlocked.

Vulnerabilities are exposed when emails are sent in plain text or with attachments that contain clients’ personal information like social security numbers, credit card numbers, and other sensitive information. When firms are lax or do not remain PCI compliant, they are putting their system and their clients’ information at risk. If sensitive information isn’t stored securely, it is at risk of being stolen. And what about malware that destroys firewalls and busts through your security systems.

Exposing a client’s personal identifiable information (PII) to cyber criminals creates a data breach.


Then what?

 

Depending on the scope, your firm could lose the trust of its clients, be sued for allowing PII to be stolen, and have an altogether difficult time recovering.

As a law firm partner, legal administrator, or IT manager in today’s legal world, it’s important to understand that a cyber event can be more likely and more destructive than a fire if not handled appropriately.

Just like a house fire, your recovery is dependent on a good insurance policy.

Here are just a few ways a cyber liability plan from LegalPay can help you:

  • The policy covers 1st- and 3rd-party liability up to $250,000. Imagine being able to repay a client for damages incurred from your data breach. Not only can trust begin to be restored, but you’ll firm will be seen as one who completely takes care of its clients.

We’re talking e-theft coverage up to $100,000. Cash coverage also applies to non-electronic data breaches if the information is obtained from your network, specifically theft from ransomware, telecommunications theft (“donations” sent over the phone), and social engineering fraud (you know, when a caller pretends to bet be the IRS or an entrepreneur from a third-world country) up to $10,000.

  • Did you know that each data breach is thoroughly investigated and litigated? It’s true, not all cyber crimes are treated (or fined) equally and it can take months to determine whether PII was data was leaked and how. You know as well as anyone that investigations and litigation fees can add up. Don’t worry, the policy covers all of this, too.
  • The purpose of many cyber crimes is to steal personal information and then use it to steal money or a person’s identity, but you stand a good chance of stopping fraud before the damage becomes irreparable. LegalPay’s policy also covers credit monitoring, forensics, and early notifications.
  • The policy also helps you recertify compliance to PCI security standards. Think of it as providing extra credit to get you back to an A.

The complete package, total coverage, that’s what’s being offered. And it’s all free to law firms who use LegalPay with Monify.

How could this policy possibly be offered for free? At LegalPay, we understand that as serious as the privacy of your clients is to your reputation and continued success, it’s essential to have a safety net.

The net’s nicer without any strings. No application. No underwriting. No deductible. And no territorial restrictions.

As soon as you open a merchant account with LegalPay, you become a holder of the cyber liability policy and add to your law firm’s security policy. It’s like having a team of first responders on speed dial.

Visit www.legalpay.pro to learn more about LegalPay’s cyber liability policy and how to get started on your own.


This is a brief coverage summary, not a legal contract. The actual policy should be reviewed for specific terms, conditions, limitations, and exclusions that will govern in the event of loss. Extended sixty-day reporting period applies
LegalPay with Monify offers credit card processing and payment technology for law firms. Our program seamlessly separates earned and unearned fees protect your IOLTA account and makes it easier for your clients to pay their legal fees on time. LegalPay maintains the highest PCI data security standards, helping your firm perform at a more efficient level. If you’re looking for a payment system tailored to your business needs, contact Monify today.