|Manatee County Government Administrative Center First Floor, Commission Chambers 9:00 a.m. - January 23, 2018|
Agenda Item #13
Purchase of cyber liability insurance coverage
Contact and/or Presenter Information
Mitchell O. Palmer, County Attorney, ext. 3750
Linda R. Klasing, Risk Manager, ext. 3750
Motion to approve the purchase of cyber liability insurance coverage in the amount of $13,190.00, which is the short term option 1 of the attached proposal from First Florida Insurance Brokers, and to approve execution by the County Attorney or his designee of all required documents.
The proposed short term policy period from February 1, 2018 to October 1, 2018 is in order to bring this coverage in line for renewal with the current liability coverages in place.
The Risk Management Division has been working with the IT Department to determine an appropriate cyber liability insurance program for the Manatee County Board of County Commissioners and recommends a motion to approve the purchase of cyber liability insurance in an amount of $13,190.00. This is is per Option 1 of the attached proposal from First Florida Insurance Brokers.
Cyber liability insurance will assist Manatee County with the costs associated with a security breach under Fla. Statute 501.171, as well as other associated costs. All coverages are subject to the terms, conditions, endorsements, and exclusions of the policy. Limits and Self Insured Retentions as proposed are in line with those in place for like-sized counties in the State of Florida.
Pursuant to Ordinance 16-26, the Risk Management Division administers the risk management fund 505 to finance its Property, Casualty and Workers’ Compensation risk financing programs. The Property insurance program is renewed each year on June 1st and is not included in this agenda item; Excess Liability and Workers’ Compensation are renewed each year on October 1st and are not included in this agenda item.
County Attorney Review
Other (Requires explanation in field below)
Explanation of Other
This is a County Attorney item.
Instructions to Board Records
Please return a stamped copy of this agenda memorandum certifying its approval by the Board of County Commissioners to Linda Klasing, Risk Management Division at firstname.lastname@example.org and to Mitchell O. Palmer, County Attorney's Office at email@example.com.
Cost and Funds Source Account Number and Name
$13,190 Fund 5050001500 Risk Management General Liability
Amount and Frequency of Recurring Costs
$13,190.00 One Time Payment
Attachment: MCBOCC - Cyber Liability Proposal 17-18 revised 01.02.2018.pdf