http://www.businessinsurance.com/article/20150330/NEWS06/150339979
By Claire Bushey
Crain's Chicago Business
March 30, 2015
Alarmed by their vulnerability to everything from sophisticated hacking to
the hapless attorney who attaches the wrong spreadsheet to an email, law
firms are turning to new must-have coverage: cyber insurance.
In the past few years, the biggest firms have purchased policies to cover
the costs of a data breach: notifying clients or employees, conducting a
forensic investigation and, if necessary, writing checks to plaintiffs or
regulators.
Now midsize and small firms are eyeing the policies, too.
But without a major claim by a law firm against a cyber insurance policy,
attorneys shopping for coverage are left with what Matthew Price,
associate general counsel at Milwaukee-based Foley & Lardner L.L.P., calls
“the real $64,000 question, which is: How much is enough?”
[...]
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