Agenda Item
Meeting Date: 10/7/2019 - 6:30 PM
Category: CONSENT ACTION ITEMS
Type: Action
Subject: Approval of a Resolution Regarding the Purchase of a Cyber Security Insurance Policy
Strategic Plans:
Enclosure:
File Attachment:
Summary: The District is in need of a Cyber Risk/Liability Insurance Policy with adequate coverage to protect against and/or mitigate damages from a potential cyber attack. District administration obtained quotes from established and reputable insurance companies for said coverage. Upon review, it is recommended we purchase a $5 million policy with Beazley Insurance Group at a cost of $17,528 effective 10/8/19 through 6/30/20.
Funding: Tort Fund
Approved in original budget or revised budget
Funds currently available in specified line item
If not currently available in line item, where are funds available
Resolution: WHEREAS, Springfield Public School District 186 is in need of cyber liability insurance for fiscal year 2019-2020; and

WHEREAS, the District requested quotes from several insurance carriers for cyber liability coverage for fiscal year 2020; and

WHEREAS, District administration recommends the selection of Beazley Insurance Group as our policy carrier;

NOW THEREFORE BE IT RESOLVED that the Board of Education accepts the proposal of Beazley Insurance Group for cyber liability insurance.
Approvals:
Recommended By:
Signed By:
Nathan Fretz - Director
Signed By:
Jennifer E. Gill - Superintendent
Vote Results:

Original Motion
Member Scott McFarland Moved, Member Tiffany Mathis seconded to approve the Original motion 'WHEREAS, Springfield Public School District 186 is in need of cyber liability insurance for fiscal year 2019-2020; and

WHEREAS, the District requested quotes from several insurance carriers for cyber liability coverage for fiscal year 2020; and

WHEREAS, District administration recommends the selection of Beazley Insurance Group as our policy carrier;

NOW THEREFORE BE IT RESOLVED that the Board of Education accepts the proposal of Beazley Insurance Group for cyber liability insurance.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion Carried 7 - 0
   
Judith Johnson     Yes
Scott McFarland     Yes
Michael Zimmers     Yes
Anthony Mares     Yes
William Ringer     Yes
Micah Miller     Yes
Tiffany Mathis     Yes