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Board authorizes staff to pursue cyber insurance options
Summary
Managers presented two cyber insurance quotes — one from a long-standing provider and one from Travelers — and the board authorized staff to proceed with comparisons and move forward with the company that best fits township needs.
The manager briefed the board on cyber insurance options, saying the township had two quotes and that it is increasingly difficult to secure coverage in the market. The manager told the board, "it's even getting harder and harder for us to even get this," and recommended the board authorize staff to proceed with additional comparison work and choose the vendor that best fits the township's needs.
Board members moved and seconded a motion to approve initiation of the procurement process for cyber insurance and to allow staff to finalize an award once a fit is confirmed. The transcript does not include comparative premiums or carrier-specific coverage details; the manager said staff would perform further comparisons and bring a recommendation back if necessary.
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