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Story County supervisors approve $3,000,000 cyber policy with CFC
Summary
The Story County Board of Supervisors voted June 24 to buy a $3,000,000 cyber liability policy from CFC after hearing insurance representatives outline higher limits and cost comparisons; the county will absorb about $13,000 more than budgeted this year.
The Story County Board of Supervisors voted unanimously June 24 to purchase a $3,000,000 cyber liability policy from CFC for $18,201 and a $5,000 deductible.
County staff introduced the item and insurance advisers laid out options for higher limits after the county implemented multifactor authentication. "Now that MFA is in place for the county, we can look at some higher limits," said Steve Goodhue, an insurance presenter, describing benchmarking the county against similar jurisdictions.
Why it matters: County officials and their advisers said cyber incidents can trigger data restoration, outside consulting, credit monitoring and potential…
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