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Meeting Date:
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8/5/2024 - 6:00 PM
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Category:
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CONSENT ACTION ITEMS
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Type:
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Action
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Subject:
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Approval of a Resolution Regarding the Renewal of a Cyber Security Insurance Policy
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Strategic Plans:
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Enclosure
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File Attachment:
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Summary:
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The District, through broker Troxell, solicited quotes from multiple insurance companies for cyber risk management coverage for FY25. Troxell recommended a $2 million policy with Coalition Insurance Solutions at an annual premium of $64,428. This is a 7.8% decrease from the previous year's premium.
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Funding:
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Tort Fund
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Resolution:
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WHEREAS, Springfield Public School District 186 is in need of continued cyber liability insurance for fiscal year 2024-2025; and
WHEREAS, District administration recommends a $2 million policy with Coalition Insurance Solutions;
NOW THEREFORE BE IT RESOLVED that the Board of Education accepts the proposal of Coalition Insurance Solutions for cyber liability insurance.
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Approvals:
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Recommended By:
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Signed By:
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Steve Miller - Director
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Signed By:
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Jennifer E. Gill - Superintendent
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Vote Results:
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| Original Motion | Member Anthony Mares Moved, Member Sarah Blissett seconded to approve the Original motion 'WHEREAS, Springfield Public School District 186 is in need of continued cyber liability insurance for fiscal year 2024-2025; and
WHEREAS, District administration recommends a $2 million policy with Coalition Insurance Solutions;
NOW THEREFORE BE IT RESOLVED that the Board of Education accepts the proposal of Coalition Insurance Solutions for cyber liability insurance.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Anthony Mares | Yes | | Micah Miller | Yes | | Sarah Blissett | Yes | | Buffy Lael-Wolf | Yes | | Erica Austin | Yes | | Ken Gilmore | Yes | | Debra Iams | Yes | |
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