According to a recent newsletter from Willis, data production is growing at an exponential rate (currently compound annual 60%) and that claims for data theft worldwide jumped 56% last year.  

In our experience, questions regarding insurance coverage for data security and identity theft are increasing daily.  Professional liability policies are intended to cover errors or omission in the delivery of professional services.  The question that often arises is, if data is lost or stolen outside the office (i.e. theft of a laptop computer) is there a connection to the delivery of professional services?

In addition, first-party expenses often triggered by state security breach laws are generally not covered under a professional liability policy.  This is the direct cost of client notification and credit monitoring that can run between $5 - $50 per client.

Download NAPLIA's White Paper on Information Security & Cyber Liability to learn more about essential steps to protecting your firm.