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L Squared Insurance Agency Blog: cyber insurance

View the latest blog posts from L Squared Insurance Agency.

According to one report over 75% of the Cybercrimes reported were from the “The Friday Afternoon Fraud”.  This involves criminals modifying emails directly by hacking into the email system of an individual. By monitoring e-mails they can then determine when a deal is about to be closed. READ MORE >>

Did you know that there is a big difference time between when the data breach occurred and when it is discovered?  According to the Ponemon Institute the average small business did not know that they were hacked until 197 days after it happened. You may think that your firm is secure, but survey results beg to differ. READ MORE >>

Most firms believe that they will have a cyber-attack in the next year.  According to Travelers 2018 Risk index over 52% of businesses consider it inevitable that they will be a cyber victim.  What types of information do you store about clients, vendors and employees? READ MORE >>

Hiscox is a leading provider of Cyber Insurance worldwide.  This is their 3rd Cyber Report, which can give an interesting perspective in trends from prior years.  The number of firms reporting a cyber-attack has increased from 45% in 2018 to 61% in the 2019 report. READ MORE >>

The last few blogs have been about cyber and data breaches.  We have blogged about passwords before, but sometimes the victims make it way too easy for the criminals.  I know you should not blame the victims for the crime, but number one on the password list was used over 23 million times in public databases of breached accounts according to a recent BBC Article. READ MORE >>

L Squared Agency is a nationwide agency that specializes in professional liability insurance.  Because many of our clients need access to surplus lines insurers, L Squared also is a surplus lines broker in many states.  All surplus lines policies need to be reported to each state when written by a surplus lines broker. READ MORE >>

Data breaches and cyber intrusions happen daily. With Cyber Insurance premiums starting at only $125 for $100,000 in coverage for some law firms what are you waiting for?  Remember Business Owners Policies are designed to cover physical and general liability insurance exposures are not a substitute for malpractice insurance and/or cyber Insurance. READ MORE >>

About 2 years ago we blogged about the data breach of the now defunct Panama Law Firm Mossack Forseca.  If you remember over 11.5 million stolen client documents were leaked to the press over a period of months  These leaked client files were dubbed the Panama Papers. READ MORE >>

Are You Covered for Employee Theft? Law Firms, Accounting Firms, Title Agencies and other small organizations spend a large amount of resources to combat the theft of funds from cyber criminals and other con artists.  These outside thefts are well publicized by the media. READ MORE >>

Likely you’re tired of blogs and articles that talk about cyber security.  Unfortunately we continue to see law firms that are stuck in the dark ages that either have been data breach or cyber security targets or will be soon.  Don’t make yourself an easy target. READ MORE >>

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