HomeMy WebLinkAboutResolution - 2020-R0292 - Network Security InsuranceResolution No. 2020-RO292
Item No. 7.10
September 8, 2020
RESOLUTION
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 $67,290; and
THAT the City Manager may execute any routine documents and forms associated
with said insurance coverage.
Passed by the City Council this September 8, 2020
DANIEL M. POPE, MAYOR
AT" EST:
Reb ca Garza, City Secr tary
APPROVED AS TO CONTENT:
����A �
U• �r Kqyfelich, ChierF—iffifrcial Officer
APPROVED AS TO FORM:
JefMarlk Il, Deputy City Attorney
RES.Risk Mgmt-Certain Underwriters at Lloyd's of London
August 25, 2020
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: $67,290.00 — Including Taxes & Fees
Aggregate Policy Limit
5,000,000
Security & Privacy Liability
5,000,000
50,000
Multimedia & Intellectual Property Liability
5,000,000
50,000
Technology Services
N/A
N/A
Miscellaneous Professional Services
N/A
N/A
Network Interruption and Recovery
5,000,000
50,000
8 Hours
Event Support Expenses
5,000,000
50,000
Privacy Regulatory Defense & Penalties
5,000,000
50,000
Network Extortion
5,000,000
50,000
Electronic Theft, Computer Fraud &
Telecommunications Fraud
250,000
N/A
Social Engineering Fraud
250,000
N/A
Reputational Damage
5,000,000
50,000
Endorsed
PC] Fines
5,000,000
50,000
Dependent Network Interruption & Recovery
250,000
25,000
Bricking
250,000
50,000
-
Terms and conditions based off Revenue Split by Location as specified below
• Terms and conditions based off Revenue Split by Location as specified below
• Retroactive Date— Full Prior Acts
• NMA1256 Nuclear Incident Exclusion (USA)
• NMA1477 Radioactive Contamination Clause (USA)
• LSW1001 Several Liability Notice (Insurance)
• LSW3000 Premium Payment Clause 45 Days
• NMA1168 Small Additional Or Return Premiums Clause (USA)
• LSW1023A Texas Surplus Lines Clause
• LSW1022A Texas Complaints Notice
• APPA Amendatory
• Bricking
• Cyber Terrorism
• Dependent Network Interruption and Recovery
• Miller Amendatory
• Notice of Terrorism Insurance Coverage LMA9105
• Payment Card Industry Fines and Assessments
• Marsh Amendatory
• California Consumer Protection Act (CCPA) Extension
• Voluntary Shutdown Extension
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
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.
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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
Kissel Hirsh & Wilmer LLP, 580 White Plains Rd., Sth Floor, Tarrytown, NY 10591
New York
Worldwide
Worldwide
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.