HomeMy WebLinkAboutResolution - 2019-R0297 - Certain Underwriters At Lloyd's Of London - Network Security Privacy - 08/27/2019 Resolution No. 2019-RO297
Item No. 6.23
August 27, 2019
12ESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Manager of the City of Lubbock is hereby authorized and directed
to purchase for and on behalf of the City of Lubbock, Network Security Privacy Insurance
coverage from Certain Underwriters at Lloyd's of London, for which the premium amount
shall not exceed $35,616.00; and
THAT the City Manager may execute any routine documents and forms associated
with said insurance coverage.
Passed by the City Council this Aucust 27. 2019
DANIEL M. POPE, MAYOR
ATTEST:
Retie•ca Garza, City Seeretar
APPROVED AS TO CONTENT:
Leis-Hutcheson, Director of Human Resources
and Risk Management
APPROVED AS TO FORM:
Je artelf, Deputy City Attorney
RES.Risk Mgmt-Certain Underwriters at Lloyd's of London
August 13, 2019
Resolution No. 2019-RO297
Cyber Liability
Insurance Company: Certain Underwriters at Lloyd's of London
Policy Term: 10/01/2019 to 10/01/2020
Coverage: Cyber liability insurance protects the organization from losses due to
Notification expenses, Business Interruption expenses, Cyber extortion
or ransom and regulatory fines and penalties to name a few coverage
clauses that address first and third party losses from a cyber attack.
Privacy Liability insurance coverage protects businesses against the
liabilities and expenses arising from a theft,loss of unauthorized use of
personal information(PI),personal health information (PHI)or
corporate confidential(CC)information.
Annual Premium: $35,616.00— Including Taxes&Fees
Coverage • . •limit Deductible/Retentio
Aggregate Policy Limit 5,000,000
Security& Privacy Liability 5,000,000 15,000
Multimedia &Intellectual Property Liability 5,000,000 15,000
Technology Services N/A N/A
Miscellaneous Professional Services N/A N/A
Network Interruption and Recovery 5,000,000 15,000
8 Hours
Event Support Expenses 5,000,000 15,000
Privacy Regulatory Defense&Penalties 5,000,000 15,000
Network Extortion 5,000,000 15,000
Electronic Theft,Computer Fraud &
Telecommunications Fraud
250,000 15,000
Social Engineering Fraud 250,000 15,000
Reputational Damage 5,000,000 15,000
Endorsed
Notification Expenses 5,000,000 15,000
PCI Fines 5,000,000 15,000
Dependent Network Interruption&Recovery 250,000 15,000
Bricking 250,000 15,000
163
Jerms are Subject to the Following Conditions:
Terms and conditions based off Revenue Split by Location as specified below
• NMA 1256 Nuclear Incident Exclusion(USA)
• NMA 1477 Radioactive Contamination Clause(USA)
• LSW1001 Several Liability Notice(Insurance)
• LSW3000 Premium Payment Clause 45 Days
• Retroactive Date—Full Prior Acts
• Cyber Terrorism Endorsement
• Notice of Terrorism Insurance Coverage LMA9105 Endorsement
• Payment Card Industry Fines and Assessments Endorsement(as specified under Endorsed Coverages)
• Notification Expenses Outside Total Limit of Liability Endorsement(as specified under Endorsed Coverages)
• Dependent Network Interruption and Recovery Endorsement(as specified under Endorsed Coverages)
• APPA Amendatory Endorsement
• Miller Amendatory Endorsement
• Bricking Endorsement(as specified under Endorsed Coverages)
Important Considerations
North American Electric Reliability Corporation(NERC)and Federal Energy Regulatory Commission(FERC)are
included as Full Limits
Bitcoin Demand is included in Endorsements of Coverage
Risk Management Services
This policy offers Insureds free access to a designated password protected risk management portal powered by
CyberScout•,offering a range of services including pro-active privacy educational resources,24/7 breach
management services and a response hotline.
*formerly known as IDT911
Excluded coverage or other coverages sought may be available: please discuss with USI
other exclusions and policy limitations may apply. Please refer to the actual policies for specific terms,
conditions,limitations,exclusions and sublimits that will govern in the event of a loss.
SUBJECTIVITIES TO BE SETTLED AND AGREED PRIOR TO BINDING (UNLESS OTHERWISE AGREED)
UNDERWRITERS RESERVE THE RIGHT TO AMEND, ALTER OR WITHDRAW TERMS SHOULD THE RESPONSES TO
SUBJECTIVITIES BE DEEMED UNSATISFACTORY
•Application form to be signed and dated(within 30 days of binding coverage).
USD 205,873,768
Governmental&Public Authorities-Municipality/Township/Local Authority
• None
• • TBA(500,001-999,999) ---
• • 2,453
•
64
Notice 01 Claim In respect of:
A circumstance,claim or an event which may entitle you to an indemnity for costs
or expenses under your policy contact: Breach Response,CyberScout,7580 N
Dobson Rd#201,Scottsdale,AZ 85256, breach@cyberscout.com,+1 (0)844-858-
9578
Of Kissel Hirsh&Wilmer LLP,580 White Plains Rd.,5th Floor,Tarrytown, NY 10591
ChoiceOf New York
TerritoWorldwide
• Worldwide
containKey Definitions
The Key Definitions • .r common typestypes
defined and someof thosebe included in your insurance program
Privacy Liability - Covers liability arising from failure by the Insured or an Independent Contractor to properly
manage, store, destroy or otherwise control Personal Information, or an unintended violation of the Insured's
privacy policy that results in the violation of any Privacy Regulation
Network Security Liability - Covers liability arising from a failure of Network Security, meaning those activities
performed by the Insured, or by others on behalf of the Insured, to protect against unauthorized access to,
unauthorized use of, a denial of service attack against, or transmission of unauthorized, corrupting or harmful
software code to the Insured's computer system.
Internet/Multi Media Liability - Covers liability arising from the electronic publishing, dissemination, releasing,
gathering, transmission, production, webcasting, or other distribution of Internet Content on the Insured's
website.
Network Extortion - First party coverage. Reimburses for payments made under duress to address an extortion
threat.
Data Breach Expenses- Covers Notification, Monitoring, Call Center Services as required by law, Forensics and
Loss Control,PR&Crisis Communication Services
Regulatory Proceedings-First party coverage.Covers Defense and Penalties related to civil proceeding brought by
FTC, FCC or similar governmental entity
Digital Asset Protection - First Party coverage. Pays costs incurred to replace, restore or re-collect Digital Assets
due to corruption or destruction caused by a Network Security failure.
Business Interruption -First Party coverage. Pays Income Loss and Extra Expense incurred by the Insured during
the Period of Restoration resulting directly from a covered Interruption of service as a direct result of a data
security event.
W11, 165