Professional indemnity: PI insurance – dos and don’ts

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Marsh’s Sandra Neilson-Moore reflects on the process of applying for professional indemnity insurance, with some added thoughts on cyber liability

Professional indemnity (PI) insurance is a crucial component of the business risk management ‘toolkit’ of any law firm. In this country of course it is compulsory that a minimum amount of such insurance is purchased. This minimum amount is quite small (and may yet become smaller still), but the fact of the matter is that any sensible law firm/practising solicitor will want to purchase as much coverage, with as broad a scope of protection, as they can reasonably afford, and which they believe will meet their needs, and the needs and expectations of their clients.

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Mobile cyber-security – Pay as You Go

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Mobile technology has enabled today’s lawyers to be more responsive to clients’ needs than ever before but brings added risk of cybersecurity breaches. How are law firms coping with the threats?

Our recent risk management survey, published in March, provided an insight into the level of concern that breaches of IT and data security raise within law firms. Every year since 2008, our annual survey has identified IT/data security breaches as the most significant threat to law firms in terms of actual damage caused and the likelihood of that damage occurring. No firm has fallen foul of a serious reported breach to date but some anecdotal horrors recounting the blasé approach of some lawyers to holding sensitive client data on mobile devices suggests such an outcome is merely a matter of time.

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Here be monsters – will LPOs help clients find the threats in the data jungle?

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From disclosure to global investigations, companies are being forced to search an expanding jungle of data for threats. Legal Business teamed up with Clutch Group to find out if clients believe LPOs will aid the hunt

Disaggregation. If someone wanted to identify a keyword to describe what legal process outsourcers (LPOs) do (and identifying keywords and clauses is part of what they do), this word would have to be top of the list. It’s a buzzword that forms a big part of the dialogue used by proponents of legal process outsourcing, be they industry insiders or the clients themselves, and its meaning applies not only to the work they do, but to the effect that LPOs, and other alternative sources of legal work, could have on the legal sector as a whole.

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Cyber warfare – Norton Rose Fulbright hires global chief information security officer

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Top ten LB100 firm Norton Rose Fulbright (NRF) has moved to further protect client information with the hire the former head of cyber security for National Air Traffic Services (NATS) Paul Swarbrick as its global chief information security officer (CISO) in the London office.

Announced today (21 January), Swarbrick will join the senior management team, and work closely with IT and the business internationally to ‘strengthen proactively, and develop, a consistent approach to information assurance and cyber security worldwide,’ a firm statement said. Continue reading “Cyber warfare – Norton Rose Fulbright hires global chief information security officer”

Known unknowns – is the legal industry ready to repel the growing threat of cyberattacks?

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Combating cyberattacks on law firms is complicated by the lack of hard information and the shadowy nature of perpetrators. But, reports Legal Business, law firm tech chiefs and security specialists agree the threat is rapidly growing.

What is a law firm if not a huge repository of commercially valuable information? On one side, of course, is the vast bank of specialist legal information held by experienced staff and databases of precedents and legal know-how. Yet valuable as that intellectual property (IP) is – it’s very hard to steal legal expertise.

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