The Pulaski County Commissioners have decided to invest in cyber insurance. They voted Monday to move forward with a policy from EMC Insurance, at a cost of just over $4,100 a year. It will provide $1 million of cyber coverage and $500,000 of coverage for data protection.
The desire for cyber coverage was brought on by the recent ransomware attacks on government entities, such as LaPorte County and, more recently, several local governments in Texas. Insurance agent Gene Timm explained that the insurance company would typically take over, if cybercriminals were to attack. “They look at your smaller counties and your smaller small businesses because you’re not as able to fight it as large corporations,” Timm explained. “And they come in, and they take over all the negotiations and everything, to get everything resolved for you.”
But the new insurance policy still depends on the county council’s funding approval. Auditor Laura Wheeler wasn’t sure there was enough extra money in the insurance budget, especially if the county has to pay for the first year up-front. To help with the budgeting process, Timm agreed to ask the insurance company if the county could make monthly payments or pay for the rest of the year, then make annual payments each December.
