HomeMy WebLinkAboutItem 08 - Cyber Liability InsuranceMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: SEPTEMBER 15, 2026
SUBJECT: APPROVAL TO RENEW ANNUAL POLICY FOR CYBER LIABILITY
INSURANCE COVERAGE.
RECOMMENDATION: City Council to consider the renewal of an annual policy for cyber liability
insurance coverage with AXA XL Insurance.
FUNDING SOURCE: Funds are available in the General Fund (Risk Department) for an
estimated annual amount of $68,000.
BACKGROUND: The City's insurance broker, HUB International Insurance Services (HUB),
received proposals for cyber insurance coverage, including a renewal
quote from AXA XL Insurance. AXA XL Insurance was the most
reasonable option for the coverage needed.
City staff reviewed the proposals and recommend coverage with AXA XL
Insurance policy for cyber liability coverage. This is a one-year policy.
Staff recommends approval.