HomeMy WebLinkAbout16172 1 RESOLUTION NO. 16,172
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO ENTER
4 INTO A CONTRACT WITH CRUM & FORSTER, IN AN AMOUNT NOT
5 TO EXCEED ONE HUNDRED TWENTY-SIX THOUSAND, FOUR
6 HUNDRED SIXTY-SIX AND 08/100 DOLLARS ($126,466.08), TO
7 PROVIDE CYBER LIABILITY INSURANCE FOR A ONE (1)-YEAR
8 TERM; AND FOR OTHER PURPOSES.
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10 WHEREAS, it is necessary for the City to include Cyber Liability Insurance in its coverage portfolio;
11 and,
12 WHEREAS, the City's current Insurance Broker has taken the City's Cyber Liability Insurance
13 Program to market and was able to secure a Five Million Dollar($5,000,000.00)Cyber Liability quote from
14 Crum&Forster;and,
15 WHEREAS, the Broker and City Staff recommends binding the quote from Crum & Forster for an
16 amount not to exceed One Hundred Twenty-Six Thousand, Four Hundred Sixty-Six and 08/100 Dollars
17 ($126,466.08)for the term of December 10,2023,to December 10,2024.
18 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK,ARKANSAS:
20 Section 1. The City Manager is authorized to enter into an agreement with Crum & Foster to secure
21 Five Million Dollar($5,000,000.00) for the City's Cyber Liability Insurance coverage for a premium not
22 to exceed One Hundred Twenty-Six Thousand, Four Hundred Sixty-Six and 08/100 Dollars($126,466.08)
23 for the term December 10,2023,to December 10,2024.
24 Section 2. Funds for this agreement are available as a Budget Line Item for Cyber Liability Insurance,
25 Account No. 100000-14010.
26 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
27 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
28 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
29 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
30 resolution.
31 Section 5. Repealer. All laws,ordinances, resolutions, or parts of the same,that are inconsistent with
32 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
33 ADOPTED: December 5,2023
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IAT 110 APPROVED:
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4101 OW
4 us: i;, City Clerk Frank Scott,Jr.,Mayor
5 APP'l8a`i 'D AS TO LEGAL FORM:
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7 `44----'^- fra •
8 Thomas M. Carpenter,City Attor
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