Filed Under:Agent Broker, E&S/Specialty Business

Cyber Liability Emerging As Top Concern In Lawyers’ Professional Liability Market

A tough economy also leads to more claims against attorneys from disgruntled clients

Growing exposures in the area of cyber liability are creating new pockets of insurance needs within the lawyers’ professional-liability (LPL) market.

A security breach that results in a client’s data being stolen and used in a damaging fashion can lead to third-party liability claims. And beyond that exposure, the theft of information through a hack brings with it other potentially expensive losses.

“You think you have a handle on how law firms are going to be sued by their clients, and sometimes you find out there are other ways in which a law firm can be sued,” says Reed. “Information is moving just so much more quickly today.”

Bad Economy, Big Claims

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