Impact
WARD / COUNCILMEMBER: Citywide
$ IMPACT: $7,430
Title
Approval of Excess Cyber Security coverage renewal with Towers Watson/Chubb Insurance for $7,430 and authorize the Mayor to grant authority to bind coverage and execute related documents
Body
ISSUE AND BACKGROUND:
In 2018, the City enrolled in Excess Cyber coverage through GIRMA/Towers Watson. This provides coverage up to $1,000,000 in the event of a cyber
breach. The coverage period is May 1 - April 30. Renewal cost increased only $551, which is being driven by market changes for municipalities/public entity.
RECOMMENDATION / REQUESTED ACTION: Approval of Excess Cyber Security coverage renewal with Towers Watson/Chubb Insurance for $7,430 and authorize the Mayor to grant authority to bind coverage and execute related documents.