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Board approves Gallagher insurance renewal and a proposed increase in cyber coverage to $5 million
Summary
The authority approved a $166,196 annual insurance renewal package brokered by Gallagher and discussed a requested increase in cyber coverage from $1 million to $5 million; board members debated budget coverage and recent cyber vulnerabilities.
The Hospital Authority Board approved the hospital’s insurance renewal placed through Arthur J. Gallagher, including directors-and-officers, crime, cyber and excess/umbrella coverage, with a total annual premium of $166,196 and a proposed cyber limit increase to $5 million.
Christy Lewis, the hospital’s chief compliance officer, presented the renewal and said the request reflects industry benchmarking that shows health care faces more cyber incidents than other sectors. Lewis outlined a request to raise cyber…
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