The American Bar Association has expanded its insurance offerings to include cyber insurance.
It already offers life, disability, dental, vision, and travel insurance for law firms.
The ABA said in a statement that its cyber insurance is underwritten by Chubb Limited and includes cyber coverage for a firm's own expenses, such as network extortion, income loss, and forensics, associated with a cyber-incident as well as for liability protection and defense costs. It said that the coverage can be tailored “to meet a law firm's unique needs” and also includes Chubb's loss mitigation services both before an incident and following an incident.
“Cyber insurance coverage is a valuable and practical member benefit for lawyers offered through the ABA Insurance portfolio,” the ABA's president, Linda A. Klein, said. “As the number of cyber breaches increases everywhere and throughout all industries, it is critical that lawyers and law firms that rely on vast amounts of electronic data are protected. As the legal profession evolves, the ABA remains at the forefront in providing attorneys the tools they need to thrive.”