The Society fears the changes may lead to disputes between firms' cyber insurance and mandatory PII providers

The Law Society has “significant concerns” regarding changes proposed by the Solicitors Regulation Authority (SRA) to its minimum terms and conditions (MTCs), which aim to clarify what is (and what is not) covered by professional indemnity insurance (PII) if a firm suffers a cyber-attack or event. 

The proposed clause excludes from cover any cyber-related first party losses – that only affect the law firm – while confirming third-party losses remain within the scope of MTCs. 

The SRA believes the proposed clause will “provide absolute clarity for law firms, insurers, and consumers without altering the scope of consumer protection provided by our PII arrangements”.

The propos...

Suzanne Townley
News Editor
Solicitors Journal

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