For almost 25 years, the Attorney's Liability Protection Society (ALPS), A Risk Retention Group, has anticipated emerging coverage needs of attorneys nationwide through its core Lawyers' Professional Liability Insurance policy. Today, ALPS is proud to more comprehensively protect law firms with the launch of ALPS Cyber Response and ALPS Law Firm Protect (EPLI).
"With more state bar association partnerships than any other LPL carrier in the country, we have the good fortune of hearing what lawyers need, directly from them," said Robert W. Minto, Jr., CEO and Executive Chair of ALPS Corporation. "We are also a leader in addressing emerging risks - the ones lawyers may not even know are threats to their practice."
ALPS Cyber Response
Client data and case files are the most important information a law firm maintains. With new advances in technology, firms have more options of how they store this data. From document management software to Cloud data storage to the increased reliance on smart phones and tablets for interaction with clients, the options are endless; but so is the exposure. According to Verizon's 2011 Data Breach Investigation, small to medium-sized companies have become "attractive targets for hackers."
Small to mid-sized law firms face the same risks. With client data and case files on the line, the repercussions of a cyber-security breach could be financially devastating and a reputational blight to law firms and their clients. ALPS Cyber Response is designed specifically for attorneys, offering a single-stop, real time breach response solution.
ALPS Law Firm Protect (EPLI)
As with any business, law firms are subject to claims arising from an employment practices complaint. An EPLI policy offers protection against claims and lawsuits that are brought against a business, its officers or directors, or its employees and managers. Most standard business insurance policies don't specifically cover employment practices liability, and claims against employers are on the rise.
Dealing with this type of complaint is time-consuming and disruptive to the day-to-day functions of the law firm. Productivity lost combined with the financial burdens of such claims can be detrimental to the health of the firm. The reason ALPS is offering ALPS Law Firm Protect is so firms can continue to operate during adverse circumstances.
Education and Risk Management
ALPS has long provided Continuing Legal Education and risk management to our policyholders and the greater legal community. ALPS takes a preventative approach not simply to mitigate claims, but to help foster the betterment of the legal profession. ALPS is offering its Cyber Response and Law Firm Protect (EPLI) policies as an integral part of its insured firms' "lines of defense," but ultimately both ALPS and the firms it insures want to avoid claims altogether.
Through live CLE events, webinars and online education, ALPS is working to help all attorneys identify and safeguard their firms against cyber-security breaches. It is also building awareness of the inherent risks of being an employer. ALPS helps firms understand how to properly manage those risks by adhering to the best employment practices and the steps they can take to protect their firm.
Both ALPS Cyber Response and ALPS Law Firm Protect (EPLI) are now available to ALPS Lawyers' Professional Liability Insurance policyholders on an opt-out basis at a reasonable, flat per-attorney rate. For more information, visit protectionplus.alpsnet.com.
ALPS Corporation is a preeminent provider of Lawyers' Professional Liability Insurance, with an emphasis on protection, stability, and commitment to the legal community. For more information, visit www.alpsnet.com.