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Board signs insurance renewal; district urged to boost cyber liability and umbrella limits
Summary
Trustees approved the district’s insurance renewal, noting a modest overall increase (3.3%) but highlighting cyber liability and umbrella limits as risk areas; officials recommended raising umbrella from $5 million to $10 million and moving unoccupied properties to monoline policies.
The Cuyahoga Falls board approved an insurance-renewal proposal June 10 that district staff described as a favorable renewal year with a 3.3% premium increase. An insurance representative warned the board that the district’s cyber-liability coverage — currently $1 million — may be insufficient given rising phishing and ransomware attempts targeting K–12 institutions.
The representative recommended increasing umbrella liability limits from $5 million to $10 million to blunt catastrophic exposure (for example, large transportation accidents or major litigation). Board members also discussed placing vacated properties on separate monoline policies to reduce costs while the buildings are unoccupied.
The presenter said the district has seen a marked increase in phishing attacks over the last quarter and emphasized that K–12 districts, which serve many users with limited IT staffing, are high-value targets. The board approved the insurance proposal and asked administration to pursue higher umbrella limits as part of the renewal negotiations.
Next steps include finalizing the specific coverage limits, moving unoccupied buildings into monoline policies as appropriate and coordinating with the district’s IT and risk teams to ensure incident-response procedures align with coverage terms.
