Cyber Insurance Archives - New York City Bar

Emerging Threats: Cybercrime as a Service

While the dollar doesn’t go as far as it used to, cybercrime mayhem is surprisingly cheap — as little as $5 a hack. This sort of attack has been dubbed “cybercrime as a service.” It’s an emerging cybersecurity threat that involves a hacker being hired on the dark web by a third party to hack a specific target.

Cybercrime as a service is a worrying trend. It broadens the potential risks for your law firm and its key personnel, creating financial, operational and reputational risks. Understanding this threat better prepares you to take the right steps to protect what matters and minimize your risks. Here’s what to know.

About Cybercrime as a Service

In today’s tech-savvy world, many things that used to be thought of as end products now operate more like […]

Cyber Coverages Explained

Cyber insurance has dramatically evolved since the first coverages were added to other policy forms in the 1990s. Traditionally, cyber coverages were only considered necessary in the technology industry — or for those providing technology-related professional services.

It was the dawn of the digital age and growing cyber risk exposures across all industry classes that led to the evolution of cyber as a stand-alone insurance product. Today, purchasing cyber insurance is considered essential by business leaders in nearly every sector, including law.

At first look, cyber coverages can be confusing for a small business such as a law firm. A broad spectrum of exposures are possible, with the top insurers offering a variety of products to protect against them, often bundled into unique package solutions with different levels of coverage. Here’s […]