Title
Chief Administrative Office, Risk Management Division, recommending the Board approve the California State Association of Counties - Excess Insurance Authority (CSAC-EIA) Cyber Liability Program - 2013-2014 Renewal Option 2 and bind coverage effective January 1, 2013.
FUNDING: Risk Management Subsidy Funds.
Body
BUDGET SUMMARY:
Total Estimated Cost…………… $1,000.00
Budgeted………………………… $1,000.00
New Funding…………………….
Savings…………………………
Other……………………………
Total Funding Available…………
Change To Net County Cost…… $0
Fiscal Impact/Change to Net County Cost
The cost of coverage for the term, January 1, 2013 to January 1, 2014 is estimated to be $1,000.00. This funding is on deposit with CSAC-EIA through the County’s Risk Management Subsidy Funds. No change to net County cost.
Background
El Dorado County has participated in the Property Program through CSAC-EIA since 1994. When the Cyber Liability Program was introduced, it was incorporated into the property program and premium was “bundled”. In March 2012, the Cyber Liability program was carved out of the Property Program and is now part of the miscellaneous programs offered through CSAC-EIA. This policy provides information security and privacy insurance with electronic media liability coverage with a self-insured retention level (SIR) of $50,000.00.
El Dorado County currently participates in 10 of the CSAC-EIA programs. The Cyber Liability Program provides coverage for those exposures including information security, privacy liability, privacy notification costs (if an approved vendor is used), dependent business, regulatory defense and penalties, website media content liability, cyber extortion and first party - data protection/business interruption.
The initial term was a 9 month policy that ran from March 1, 2012 through January 1, 2013. The premium for this period was paid on behalf of the County through the Property Program Stabilization Fund.
Reason for Recommendation
Ea...
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