Excerpt: On Monday, August 31, attorneys and co-chairs of the Law Firm Risk Management Committee, Philadelphia Bar Association, Gina Rubel (Furia Rubel) and Mark McCreary (Fox Rothschild LLP) will present Post-COVID Law Firm Data Security Risks, Best Practices, Breach Response, and Cyber Insurance
Date and time: Monday, August 31, 12:00 p.m. to 1:30 p.m.
To register, go to: https://my.philadelphiabar.org/PBA/Events/Event_Display.aspx?EventKey=0802L&WebsiteKey=1315094f-8b80-48bc-896b-f2ce56dbc743
Post-COVID Law Firm Data Security Risks, Best Practices, Breach Response, and Cyber Insurance
With law firms and clients working remotely, we face new and unprecedented challenges. Compounding this will be attorneys and staff returning to the office, and likely splitting time between remote working and working in the office. The risks are not always obvious, and the available preventative steps not always understood. The incidences of ransomware, man-in-the-middle email compromises, system hacking, and data exfiltration are on the rise. For law firms, this risk has never been greater than it is now.
It is imperative to look forward with perfect vision when it comes to data privacy and security which is one of the leading challenges facing law firms and the judiciary today. The statistics are sobering. Every 39 seconds there is a hacker attack. The average cost of a data breach in 2020 will exceed $150 million. Between 2013 and 2018 there were nearly four million records stolen from breaches every day. Approximately $6 trillion is expected to be spent globally on cybersecurity by 2021. This is not a program you can afford to miss.
Security issues aren’t going away. If anything, they will continue to get more complex as cybercriminals increase in sophistication and continue to target the legal industry. Law firms of all sizes and the judiciary must make privacy and security a priority. This program will address what you need to know about handling client data, preventing loss of client data, responding to a loss of client data, and the pitfalls of cyber insurance sold today:
- Common threats including phishing, ransomware, and password management
- Issues with a remote workforce and hybrid work locations
- Best practices for security management of internal systems, business, and personal electronic devices
- When does a loss of data require client notification? Law enforcement notification? Federal government notification?
- What are some common gaps in cyber coverage and how are insurers denying claims?
