"As I have written before, lawfirms and cybersecurity: it's a subject that often makes managing partners' eyes glaze over. They don't understand it, it's expensive, and frankly, it's boring. They assume cybersecurity events won't happen to their firm and when they do, the only question they ask is "do we have insurance?" Increasingly, the answer is: yes, maybe, and sort of."
"That's why a recent survey by the cybersecurity company Delinea is significant and lends credence to my concerns. At the very least, it should serve as a wake-up call for firm leadership. Delinea is a cybersecurity consulting company that focuses on securing privileged access and identity security for organizations. Delinea partnered with Censuswide and surveyed more than 750 security leaders about cyber insurance and claims practices."
Cyber insurance policies contain exclusions, limitations, and conditions that can void coverage. Many organizations mistakenly assume full coverage, but policy language often leaves gaps between expectations and actual protection. A Delinea survey of more than 750 security leaders found that 77% experienced a cybersecurity incident in the past year. Law firms are at heightened risk because they hold highly confidential client material valuable to attackers, yet many managing partners underinvest in cybersecurity or rely on insurance as the primary safeguard. The survey underscores a need for leadership to reassess risk, policy terms, and identity and privileged access security.
Read at Above the Law
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