The jailbreak community has beat Apple to the punch with its own solution to an iOS 6.1 bug that could give someone access to your iPhone without knowing your passcode. The app, dubbed disableEmergency, removes the Emergency Call button from the lock screen which effectively removes one of the steps needed to break into your iPhone.
The security flaw requires several steps involving swipes, taps and button presses in the right order, afterwhich your contacts, schedule, and email are acessible.
Jailbreaking is a process where iOS device owners install a hack that lets them download and run apps that aren't available through Apple's iTunes-based App Store. Since the apps that are availalbe after jailbreaking don't go through Apple's screening process, they often times offer functionality and features that otherwise wouldn't be available, but can also create stability issues and isn't supported by Apple.
Removing the Emergency Call button from the lock screen means calling for police or fire assistance will require dialing the emergency number yourself, so hacking your iPhone just to avoid a difficult to perform process may be a little extreme, especially since Apple has promised that a fix is on the way.
disableEmergency is free and available through the Cedia installer.
[Thanks to Planet-iPhones for the heads up]