Protecting your Practice: How Cyber Essentials Plus reduces insurance costs for law firms
The safety and security of sensitive information is of utmost importance in the legal industry, and with cyber criminals are on the rise, law firms have become a prime target.
A staggering 73% of the top 100 law firms reported a cyber-attack in 2022 alone. The thought of cyber-attacks is any law firm director’s worst nightmare – considering the financial loss and reputational damage that could ensue.
To cover law firms against such losses, insurance policies are critical and insurance providers are now asking about the measures they have put in place and if they added an extra layer of protection with the Cyber Essentials Plus accreditation.
Cyber Essentials is the basic certification designed to help law firms protect themselves against 80% of cyber threats, including the most common types of cyber threats, including phishing and malware attacks. Whereas Cyber Essentials PLUS is the more a more rigorous certification that involves independent testing – essentially what is needed if you want the highest level of security assurance and on-going threat protection.
By undergoing an independent assessment of your IT systems and security controls, your law firm can guarantee it meets a set of minimum-security standards and implement various security controls, such as keeping devices and software up to date, implementing firewalls and anti-virus software, and conducting regular vulnerability assessments and penetration testing.
It’s no wonder insurance policy providers for law firms are increasingly favouring those that have achieved Cyber Essentials Plus certification. The reason for this is simple: it demonstrates that the law firm takes cybersecurity seriously and has implemented effective measures to protect their clients’ confidential information.
Not only does obtaining this certification help you meet your requirements of cyber insurance providers, but it can also improve your firm’s reputation by demonstrating your commitment to protecting client data and ensuring confidentiality and integrity of sensitive information. It can even give you a competitive edge by showing that you have taken proactive steps to protect against cyber threats, making you a more attractive option for potential clients.
In short, cyber-attacks are a very real threat to law firms, but by obtaining Cyber Essentials Plus certification and implementing basic security measures, you can reduce the risk of such attacks, improve your reputation, and reduce the cost of cyber insurance premiums. So, protect your firm, protect your clients, and protect your future by taking right steps today.
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