OAMIC Announcement: New Insured Portal Goes Live

At OAMIC, our goal is to continue raising the bar for our insureds. We are the only local provider of legal malpractice insurance, and that’s not something we take for granted. We strive to always provide unparalleled customer service. In this day and age, that customer service committment must extend to our online portal. The redesigned portal has many enhancements, including these key features: ACCESS IT ANYWHERE. The new portal includes a fully-responsive design, meaning you can easily access it from [...]

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8 Easy Tips to Increase Data Security at Your Law Firm

In 2012, then-FBI director Robert Mueller said, “I am convinced that there are only two types of companies: those that have been hacked and those that will be. And even they are converging into one category: companies that have been hacked and will be hacked again.” Mueller’s observation continues to be true today for large global companies and small business alike — including law firms. There have been numerous reports over the last decade about law firm data breaches in [...]

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Will Your Firm Be Ready When It Experiences A Cyber Attack?

In today’s world, law firms must be ever vigilant about cybersecurity – an area in which few firms have a strong competency. Preparations must be made and security protocols must be put in place for when, not if, your firm is the victim of a cyber attack. In speaking to a group of information security professionals in 2012, then-FBI director Robert Mueller said: “I am convinced that there are only two types of companies: those that have been hacked [...]

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step-rate

What Is a Step Rate and How It Affects the Cost of Legal Malpractice

Legal malpractice insurance is priced based on several different factors, but the most significant factor is often the step rate credit. WHY IS IT PRICED THIS WAY? Before we get into the specifics of step rates, it’s important to understand why this methodology is used. As you may know, legal malpractice is a claims-made policy. This means that you need to be insured on both the date of the incident itself AND the date the claim is reported. Therefore, when you [...]

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What Is Email Wire Transfer Fraud and How To Prevent It

Scamming people for money is not a new concept but it has gotten much more sophisticated as technology continues to advance. Email wire transfer fraud is one of the most common types of fraud. In 2018 alone, the FBI received more than 20,000 email wire fraud complaints with adjusted losses of more than $1.2 billion, according to the the organization’s 2018 Internet Crime Report. Attorneys can be an easy target for cybercriminals because they often wire money to or on [...]

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