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Home My WebLink About15858 1 RESOLUTION NO. 15,858 2 3 A RESOLUTION TO AMEND LITTLE ROCK, ARK. RESOLUTION NO. 4 15,840(DECEMBER 6,2022),TO AUTHORIZE THE CITY MANAGER TO 5 AMEND THE CONTRACT WITH CRUM & FORSTER, IN A REVISED 6 AMOUNT NOT TO EXCEED TWO HUNDRED THOUSAND DOLLARS 7 ($200,000.00), TO PROVIDE ADDITIONAL CYBER LIABILITY 8 INSURANCE FOR A ONE (1)-YEAR TERM; AND FOR OTHER PUR- 9 POSES. 10 11 WHEREAS, Little Rock, Ark. Resolution No. 15,840 (December 6, 2022) authorized the City 12 Manager to enter into an agreement with Crum&Foster to secure Two Million Dollar($2,000,000.00)for 13 the City's Cyber Liability Insurance coverage for a premium not to exceed One Hundred Thousand Dollars 14 ($100,000.00)for the term December 10, 2022,to December 10, 2023; and, 15 WHEREAS, it is staffs opinion that the initial policy coverage of Two Million Dollars 16 ($2,000,000.00)with a premium cost of One Hundred Thousand Dollars ($100,000.00) is insufficient due 17 to the City's complex information technology structures and solicited additional coverage; and, 18 WHEREAS,adding a policy for Three Million Dollars ($3,000,000.00) in additional Cyber Liability 19 Insurance Coverage for an additional one (1)-year premium of One Hundred Thousand Dollars 20 ($100,000.00) to provide a total coverage of Five Million Dollars ($5,000,000.00) is in the City's best 21 interest against cyber-attacks; and, 22 WHEREAS,the Broker's and City Staffs recommends binding the quote from Crum&Forster for an 23 amount not to exceed Two Hundred Thousand Dollars ($200,000.00)for the term of December 10, 2022, 24 to December 10, 2023. 25 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 26 OF LITTLE ROCK,ARKANSAS: 27 Section 1. The City Manager is authorized to amend the agreement with Crum& Foster to secure an 28 additional Three Million Dollar ($3,000,000.00) Policy for a total coverage of a Five Million Dollar 29 ($5,000,000.00) Policy in Cyber Liability Insurance Coverage with a combined premium not to exceed 30 Two Hundred Thousand Dollars($200,000.00)for the term December 10, 2022,to December 10,2023. 31 Section 2. Funds for this agreement are available as a 2022/2023 Budget Line Item for Cyber Liability 32 Insurance. 33 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 34 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or [Page 1 of 21 1 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 2 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 3 resolution. 4 Section 4. Repealer. All laws, ordinances, resolutions, including but not limited to Little Rock, Ark. 5 Resolution No. 15,840(December 6, 2022), or parts of the same, that are inconsistent with the provisions 6 of this resolution, are hereby repealed to the extent of such inconsistency. 7 ADOPTED: January 17,2023 8 ATTES • APPROVED: 9lit 40 10 _ AN� 11ilky, City Clerk Frank Scott,Jr., ayor 12 AP ED AS TO LEGAL FORM: 13 14 11/1 • 15 Thomas M.Carpenter,City Atto ey 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 2of2I