Legal Practitioners Professional Indemnity policy for cyber losses

The covers provided by the Cyber insurance policy arranged by Marsh, and how it interacts with the coverage currently provided by the LPLC Professional Indemnity policy, are described in broad terms in the below table.

Note that the below table is a general summary only, and coverage for any individual claim will depend on the specific circumstances of the claim and the policy terms and conditions.

First Party Loss

Coverage Type / Insuring Clause	What is Typically Covered?	Marsh Arranged Cyber Policy?	LPLC PI Policy?
Incident Response Expenses	Immediately following an actual or suspected data breach or cyber incident: Engagement of an incident response manager; Forensic investigation costs; Legal advice to determine the necessary course of action to comply with privacy legislation, including liaising with a regulatory authority; Legal advice to determine indemnity rights with a third party service provider Costs to notify affected individuals; Costs of identity / fraud / credit monitoring services; Costs to engage a public relations firm	✔	✖
Data Asset Loss	Costs: to restore, replace or recreate data damaged, corrupted or stolen following a covered incident costs for removal of malware, virus or other malicious code	✔	✖
Cyber Extortion	Costs of specialist consultants and extortion monies paid to end extortion threats to disrupt systems, release private information or encrypt data, including ransomware	✔	✖
Business Interruption	Loss of income and extra expense incurred due to a system interruption or degradation resulting from a covered incident	✔	✖
Computer Crime	Direct financial loss from theft of the insured’s own money or securities due to any computer malicious act or unauthorised access to the insured’s computer system. Subject to a sub-limit - per quote.	✔	✖
Social Engineering Fraud (Optional Extension)	Direct financial loss of the insured’s own money or securities due to a voluntary transfer made by an employee on the basis of fraudulent instructions made by a person purporting to be authorised to instruct the employee to transfer money. Subject to a sub-limit of $50,000	✔	✖

Third Party Loss

Coverage Type / Insuring Clause	What is Typically Covered?	Marsh Arranged Cyber Policy?	LPLC PI Policy?
Privacy Liability	Defence costs and damages for claims alleging an act, error or omission by the insured, resulting in an unintentional failure to handle, manage, store, destroy or otherwise control personal data, confidential corporate information or a violation of your privacy policy	✔	✔
Network Security Liability	Defence costs and damages for claims alleging an act, error or omission by the insured, resulting in a failure of network security resulting in transmission of malware, denial of service to third parties, or inability of an authorised third party to access systems.	✔	✔*
Regulatory Defence and Fines	Costs to respond to a regulatory investigation into actual or alleged violation of laws governing personal data, including the Privacy Act. Covers legal defence costs as well as fines and penalties, if insurable by applicable law.	✔	✖
Media	Defence costs and damages for claims alleging defamation or copyright infringement or other breach of intellectual property right resulting from the publishing of media content on the internet.	✔	✔

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Legal Practitioners Professional Indemnity policy for cyber losses

First Party Loss

Third Party Loss

Marsh/Chubb Cyber Insurance Policy for LPLC members – FAQs