What if I already have a cyber risk policy?
The Law Society has purchased a foundational group cyber risk policy which covers law practices insured by the professional indemnity insurance scheme administered by the Law Society within the limits specified. Whether or not your law practice already has a cyber risk policy, this insurance is available to your law practice should you choose to use it.
As noted above, law practices can consider increasing the limit and breadth of their cyber cover having regard to this policy and should seek professional advice.
There will be no reduction in the PII premium paid by law practices if they choose not to utilise the cyber risk policy, because the policy is provided to insured practices without cost.