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 Insurance

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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