Cyber threats have evolved from minor annoyances into highly targeted, intelligent attacks capable of crippling entire organizations—and law firms are increasingly in the crosshairs. As guardians of sensitive client data, financial records and intellectual property, law practices face mounting pressure not only to defend against breaches but also to demonstrate cyber maturity to insurance carriers.
According to the American Bar Association’s 2023 Cybersecurity TechReport, which paired data from the ABA’s 2023 Legal Technology Survey Report, 29% of respondents indicated their law firms had experienced a security breach, an increase from the prior year. Yet only 40% of firms currently carry cyber liability insurance, down from 46% the previous year—a troubling disconnect as risks escalate.
