The Benchers approved adding primary cyber coverage as part of the Indemnification Program. Lawyers Indemnity Fund is launching cyber coverage through underwriter, Coalition, Inc., for all law firms it indemnifies. The policy takes effect on June 1, 2021, and the cost will be borne by LIF.
Coverage is for third party liability claims, first party losses and cybercrime claims, including the most common cyber risks – ransomware, social engineering fraud and data breaches. The Law Society is contacting designated representatives by separate email today providing more information and seeking their assistance. Further information, including details on upcoming webinars, coverage, reporting claims, risk management, and FAQs, will be available on a new “Your cyber coverage” page that will be added to the Lawyers Indemnity Fund website on April 1, 2021.