I was a recent guest on Adam Arkfeld’s podcast, High-Performance Legal Entrepreneur, about…wait for it…high-performance legal entrepreneurs. Adam runs Prevail Legal Marketing who has a unique, branded pay-per-lead model that hascreated a much-needed antidote to thetoxic environmentoften found when dealing
Cyber Insurance Is Critical for
Effectively Insure Against Cybercrime
The financial cost of cybercrime
can be devastating.
Even with careful and thorough cybersecurity protections in place, law firms need to protect themselves by having proper insurance coverage in place in case they are hacked.
Cybercrime is usually hard to detect and prevent, and the financial cost can be devastating. Firms often mistakenly believe they are adequately covered by their existing general liability and malpractice policies, only to discover – too late – that they are not in fact cover many of the substantial costs resulting from cybercrime.
Cyber Liability Insurance Helps
Cover Financial Losses Due to Cyber Attacks
Cyber Insurance Policy
Includes investigation (who and what was compromised), coverage for fines & penalties, credit monitoring and notification, and legal defense and liability expenses.
Breach hotline available 24/7/365 in the event of possible security incidents.
Policy goes in effect within 24 hours, no complicated application process.
Who provides the Cyber Insurance
Coverage Included in BobaGuard?
What does it cover?
In general, the Enterprise Cyber Liability Program protects businesses for the cost of an actual or suspected violation of a privacy regulation due to a security breach that results in the unauthorized release of protected personal information, which is any private, non-public information of any kind in the business’s care, custody, or control. The program also provides coverage for mandatory notification and credit monitoring services.
What is the North American Data Security RPG?
North American Data Security RPG (the “Company”) is a risk purchasing group formed in Michigan and authorized under the Liability Risk Retention Act (the “LRRA”), which is a federal law enacted in 1986 to facilitate access to liability insurance on a more cost-efficient basis. As a risk purchasing group and pursuant to the LRRA, the Company is permitted to collectively purchase liability insurance on behalf of group members to cover their similar exposures that result from the members’ common practices or activities.
Who is the insurance carrier?
The Company purchases liability insurance from one or more insurance carrier(s) with an AM Best rating of “A” or better.
What is the limit of liability?
The annual aggregate limit of liability per business is $250,000.
* For a brief overview of the program click HERE.