InSure thing!

I often refer to certain aspects of law as like having an insurance policy.

You don’t take out household insurance because you think your house will burn down.

But you recognise that it’s a risk, and if the worst should come to the worst, that policy will be worth it’s weight in legal fees.

By the same token, you don’t go into business with someone (partnership, limited company, marriage(!)) believing it will all go horribly wrong, but that doesn’t mean that a partnership agreement, a shareholders agreement or a pre nup are not still the best investment you could make.

So, it’s no wonder that we are regularly asked to advise on insurance policies, and one of the biggest growth areas I’m seeing at the moment is advice on policies in relation to cyber security.

As more and more businesses are coming under attack from hackers, trying to intercept emails and changing bank details, their first port of call isn’t always their solicitor or the police. It’s often their broker to find out if they can make a claim.

I’m all for it.

But I’m also a believer in prevention is better than cure.

Have a policy by all means, but the reason I’m getting asked to advise is due to the number of people who have been hacked, but are not covered by their policies.   Sometimes this is due to brokers not giving them the right advice (if you need a good broker, ask me as I know all the best people!).  Sometimes clients haven’t read the small print and there are exclusions and restrictions they hadn’t taken into account.  And sometimes they simply don’t have enough cover or even any cover at all.  Whatever the situation, there will almost certainly be an excess and you can be equally certain that a claim is likely to affect your premiums next year.

So whilst I’m always happy to have a chat about your insurance, the best thing we can talk about is your cyber security policy.  Make sure you have one.  Make sure that all your staff are trained on it AND make sure that EVERYONE follows it.   Even you!

Kleyman & Co Solicitors.  The full service law firm.  Safe and sound.