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HomeMy WebLinkAboutResolution #5536 - Cyber Insurance Policy Renewal RESOLUTION NO. 5536 A RESOLUTION APPROVING A CYBER INSURANCE POLICY RENEWAL FOR THE CITY OF CANTON,EFFECTIVE JANUARY 17,2026,AND AUTHORIZING THE MAYOR AND/OR THE CITY CLERK TO EXECUTE ALL NECESSARY AND RELATED AGREEMENTS AND DOCUMENTS IN RELATION TO SAID INSURANCE POLICY WHEREAS,the City of Canton(the"City"),has determined that it is necessary and in the best interest to renew its Cyber insurance and coverage through CFC Underwriting Limited for the policy term period January 17, 2026-January 17,2027. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS AS FOLLOWS: 1. The cyber insurance policy renewal (the"Insurance Policy")with CFC Underwriting Limited for policy year January 17, 2026 — January 17, 2027, as set forth in "Exhibit A," is hereby APPROVED. 2. The Mayor and the City Clerk are hereby authorized and directed to execute and deliver any and all renewal documents and/or other related documents to effectuate and/or obtain the Insurance Policy on behalf of the City of Canton. 3. Any prior actions of the City and its officials or agents in regards to obtaining the Insurance Policy, including but not limited to the payment of premiums, are hereby RATIFIED. 4. This Resolution shall be in full force and effective immediately upon its passage by the City Council of the City of Canton and approval by the Mayor thereof. PASSED AND APPROVED THIS 20`h day of January,2026. AYES: Alderpersons Chamberlin,Grimm, Nelson,Lovell,Hale,Pickel,Ketcham,Gossett NAYS: None ABSENT: None APP ED: B4r,��,A /)/ft y: . t), i�4& ent McD well ayor ATTEST: Andrea J. mith-Walters,City Clerk EXHIBIT A Invoice# 280961 [—Kiesewefter ACCOWtNu� Date Page ,of t Insurance Agency CITYOFC-12 1/8/2026 PO BOX 239 BALANCE DUE ON Farmington,IL 61531-1218 1/17/2026 NT PAID Amount Due Phone: (309) 245-2434 $14,967.00 City of Canton 2 N Main St Canton, IL 61620 cyber L,ai 'i> �~ PolicyNumber ES00840644983 Effective 1/17/2026 to 1/17/2027 Item# Trans Eff Date Due Date Trans Description Amount 8698254 1/17/2026 1/17/2026 RENB 26-27 Cyber renewal $14,025.00 8698258 1/17/2026 1/17/2026 CSLT CCYB Surplus Lines Taxes and Fees $942.00 Total Invoice Balance: $14,967.00 Visit https://frp.epaypolicy.com/ to pay your invoice on-line Charge will appear on your statement as Foundation Risk Partners 1/8/2026 City of Canton Page 1 of 1 cfc Policy certificate Insurance effected through the Coverholder: CFC Underwriting Limited 11th Floor,8 Bishopsgate London EC2N 4BQ United Kingdom PLEASE NOTE-This notice contains important information. PLEASE READ CAREFULLY. This Certificate is issued by the Coverholder in accordance with the authorization granted to the Coverholder under the Binding Authority Agreement with the Unique Market Reference stated within this Policy. This Policy comprises a Certificate, the Declarations page, Wording and all other provisions and conditions attached and any endorsements issued. The liability of an insurer under this contract is several and notjoint with other insurers party to this contract. An insurer is liable only for the proportion of liability it has underwritten. An insurer is not jointly liable for the proportion of liability underwritten by any other insurer. Nor is an insurer otherwise responsible for any liability of any other insurer that may underwrite this contract. The proportion of liability under this contract underwritten by an insurer (or, in the case of a Lloyd's syndicate,the total of the proportions underwritten by all the members of the syndicate taken together) is shown in this Policy. In the case of a Lloyd's syndicate, each member of the syndicate (rather than the syndicate itself) is an insurer. Each member has underwritten a proportion of the total shown for the syndicate (that total itself being the total of the proportions underwritten by all the members of the syndicate taken together). The liability of each member of the syndicate is several and not joint with other members. A member is liable only for that member's proportion.A member is not jointly liable for any other member's proportion. Nor is any member otherwise responsible for any liability of any other insurer that may underwrite this contract. The business address of each member is Lloyd's, One Lime Street, London EC3M 7HA.The identity of each member of a Lloyd's syndicate and their respective proportion may be obtained by writing to Market Services, Lloyd's,at the above address. Although reference is made at various points in this clause to "this contract" in the singular, where the circumstances so require this should be read as a reference to contracts in the plural. In Witness whereof this Certificate has been signed by. Authorized Official Please examine this document carefully. If it does not meet your needs, please contact your broker immediately. In all communications the policy number appearing overleaf should be quoted. sCfC DECLARATIONS POLICY NUMBER: ESO0840644983 UNIQUE MARKET REFERENCES: B087525C9N5047 THE INSURED: City Of Canton ADDRESS: 2 North Main Street Canton, IL 61520 US THE UNDERWRITERS: Underwritten by certain underwriters at Lloyd's and other insurers, led as stated in the Lead Insurer Information page THE INCEPTION DATE: 00:01 Local Standard Time on 17 Jan 2026 THE EXPIRY DATE: 00:01 Local Standard Time on 17 Jan 2027 TOTAL PAYABLE: USD14,320.00 Premium: $14,025.00 Broken down as follows: Policy Fee: $150.00 Premium: USD14,025.00 Carrier Fee: $295.00 TRIA: USD0.00 IL Stamping Fee: $6.00 Policy Administration Fee: USD295.00 IL Surplus Lines Tax: $491.00 BUSINESS OPERATIONS: Municipality Total: $ 14,967.00 CHOICE OF LAW: Illinois SERVICE OF SUIT: Mendes& Mount LLP 750 7th Avenue New York, NY 10019 LEGAL ACTION: Worldwide TERRITORIAL SCOPE: Worldwide AGGREGATE DEDUCTIBLE: USD10,000.00 in the aggregate US CLASSIFICATION: Surplus Lines REPUTATIONAL HARM PERIOD: 12 months INDEMNITY PERIOD: 12 months TIME FRANCHISE: 8 hours RETROACTIVE DATE: Unlimited OPTIONAL EXTENDED REPORTING 12 months for 100%of applicable annualized premium PERIOD: APPROVED CLAIMS PANEL CFC Response PROVIDERS: CLAIMS MANAGER: CFC Underwriting Limited Please report all new claims to: cybercla i ms(cbcfc.com CYBER INCIDENT RESPONSE LINE: In the event of an actual or suspected cyber incident please call our Cyber Incident Response Team on the toll free 24-hour hotline number:1844-677-4155 or email Unique Market Reference No.B087525C9N5047 01999-2026 CFC Underwriting Limited.All rights reserved. O &C cyberclaims@cfc.com WORDING: Cyber Proactive Response v4.0 ENDORSEMENTS: Complaints Notice (USA) Subjectivity Condition Clause Public Entity Amendatory Clause Policyholder Disclosure Notice Of Terrorism Insurance Coverage Unique Market Reference No.B087525C9N5047 ?1999-2026 CFC Underwriting Limited.All rights reserved. Scfc DECLARATIONS INSURING CLAUSE 1:CYBER INCIDENT RESPONSE SECTION A: INCIDENT RESPONSE COSTS Limit of liability: USD1,000,000 each and every claim SECTION B: LEGAL AND REGULATORY COSTS Limit of liability: USD1,000,000 each and every claim SECTION C: IT SECURITY AND FORENSIC COSTS Limit of liability: USD1,000,000 each and every claim SECTION D:CRISIS COMMUNICATION COSTS Limit of liability: USD1,000,000 each and every claim SECTION E: PRIVACY BREACH MANAGEMENT COSTS Limit of liability: USD1,000,000 each and every claim SECTION F:THIRD PARTY PRIVACY BREACH MANAGEMENT COSTS Limit of liability: USD1,000,000 each and every claim SECTION G: POST BREACH REMEDIATION COSTS Limit of liability: USD50,000 each and every claim,subject to a maximum of 10%of all sums we have paid as a direct result of the cyber event INSURING CLAUSE 2: CYBER CRIME SECTION A: FUNDS TRANSFER FRAUD Limit of liability: USD250,000 each and every claim SECTION B: INVOICE MANIPULATION Limit of liability: USD250,000 each and every claim SECTION C: NEW VENDOR FRAUD Limit of liability: USD250,000 each and every claim SECTION D: PHYSICAL GOODS FRAUD Limit of liability: USD250,000 each and every claim Unique Market Reference No.B087525C9N5047 ©1999-2026 CFC Underwriting Limited.All rights reserved. Scfc SECTION E:THEFT OF PERSONAL FUNDS Limit of liability: USD250,000 each and every claim SECTION F:CORPORATE IDENTITY THEFT Limit of liability- USD250,000 each and every claim SECTION G:THEFT OF FUNDS HELD IN ESCROW Limit of liability: USD250,000 each and every claim SECTION H:THEFT OF CLIENT FUNDS Limit of liability: USD50,000 each and every claim SECTION I:CUSTOMER PAYMENT FRAUD Limit of liability: USD50,000 each and every claim SECTION J:TELEPHONE HACKING Limit of liability: USD250,000 each and every claim SECTION K: UNAUTHORIZED USE OF COMPUTER RESOURCES Limit of liability: USD250,000 each and every claim INSURING CLAUSE 3: CYBER EXTORTION Limit of liability: USD1,000,000 each and every claim INSURING CLAUSE 4: SYSTEM DAMAGE AND BUSINESS INTERRUPTION SECTION A:SYSTEM DAMAGE AND RECTIFICATION COSTS Limit of liability: USD1,000,000 each and every claim SECTION B: HARDWARE REPLACEMENT COSTS Limit of liability: USD1,000,000 each and every claim SECTION C: INCOME LOSS AND EXTRA EXPENSE Limit of liability: USD1,000,000 each and every claim SECTION D: EMERGENCY AND ADDITIONAL OPERATIONAL CONTINUITY COSTS Limit of liability: USD100,000 each and every claim Uniaue Market Reference No.8087525C9N5047 s1999-2026 CFC Underwriting Limited.All rights reserved. lady SECTION E:VOLUNTARY AND REGULATORY SHUTDOWN Limit of liability: USD1,000,000 each and every claim SECTION F: DEPENDENT BUSINESS INTERRUPTION Limit of liability: USD1,000,000 each and every claim SECTION G:CONSEQUENTIAL REPUTATIONAL HARM Limit of liability: USD1,000,000 each and every claim SECTION H: LOST OR MISSED BIDS Limit of liability: USD1,000,000 each and every claim SECTION I:CLAIM PREPARATION COSTS Limit of liability: USD25,000 each and every claim INSURING CLAUSES 5 AND 7 -9 COMBINED Aggregate limit of liability: USD1,000,000 in the aggregate INSURING CLAUSE 5: NETWORK SECURITY& PRIVACY LIABILITY SECTION A: NETWORK SECURITY LIABILITY Aggregate limit of liability: USD1,000,000 in the aggregate, including costs and expenses SECTION B: PRIVACY LIABILITY Aggregate limit of liability. USD1,000,000 in the aggregate, including costs and expenses SECTION C: MANAGEMENT LIABILITY Aggregate limit of liability: USD1,000,000 in the aggregate, including costs and expenses SECTION D: REGULATORY FINES, PENALTIES AND INVESTIGATION COSTS Aggregate limit of liability: USD1,000,000 in the aggregate,including costs and expenses SECTION E: PCI FINES, PENALTIES AND ASSESSMENTS Aggregate limit of liability: USD1,000,000 in the aggregate, including costs and expenses SECTION F:CONTINGENT BODILY INJURY Aggregate limit of liability: USD250,000 in the aggregate, including costs and expenses Unique Market Reference No.B087525C9N5047 a,1999-2026 CFC Underwriting Limited.All rights reserved. 0Cfc INSURING CLAUSE 6: CRIMINAL REWARD COVER Limit of liability: USD100,000 each and every claim INSURING CLAUSE 7: MEDIA LIABILITY SECTION A: DEFAMATION Aggregate limit of liability: USD1,000,000 in the aggregate, including costs and expenses SECTION B: INTELLECTUAL PROPERTY RIGHTS INFRINGEMENT Aggregate limit of liability: USD1,000,000 in the aggregate,including costs and expenses INSURING CLAUSE 8:TECHNOLOGY ERRORS AND OMISSIONS NO COVER GIVEN INSURING CLAUSE 9: COURT ATTENDANCE COSTS Aggregate limit of liability: USD100,000 in the aggregate Uniaue Market Reference No.B087525C9N5047 5;1999-2026 CFC Underwriting Limited.All rights reserved. Is cfc R REGULATORY CFC Underwriting Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FCA). CFC Underwriting Limited's Firm Reference Number at the FCA is 312848. These details may be checked by visiting the Financial Conduct Authority website at https://register.fca.org.uk/. Alternatively, the Financial Conduct Authority may be contacted on +44(0)20 70661000. We are covered by the Financial Services Compensation Scheme (FSCS).You may be entitled to compensation from the scheme if we cannot meet our obligations to you in respect of insurance policies that we have underwritten on behalf of insurers.This depends on the type of business and the circumstances of the claim. In respect of general insurance business the FSCS will cover 90%of the claim,without any upper limit and for compulsory classes of insurance,the FSCS will cover 100% of the claim, without any upper limit. Further information about compensation scheme arrangements is available from the FSCS. HOW TO COMPLAIN We intend to provide an excellent service to you. However, we recognize that there may be occasions when you feel that this has not been achieved. If you are unhappy with any aspect of the service that you receive from us, please contact CFC stating the nature of your complaint, the certificate and/or claim number. You can contact us directly at complaints@cfc.com or please write to: Chief Executive Officer CFC Underwriting Limited llth Floor,8 Bishopsgate London EC2N 4BQ United Kingdom If you remain dissatisfied after we have considered your complaint and provided our response, you may have the right to refer your complaint to the Department of Insurance in your State for review. You will be provided with further information about your complaint escalation rights to the Department of Insurance in your State by us on receipt of your complaint. The existence of this complaints procedure does not affect your right to commence a legal action or an alternative dispute resolution proceeding in accordance with your contractual rights. Unique Market Reference No.B08752SC9N5047 1999-2026 CFC Underwriting Limited.All rights reserved. scfc DATA PROTECTION We collect and use relevant information about you to provide you with your insurance cover or the insurance cover that benefits you and to meet our legal obligations. Where you provide us or your agent or broker with details about other people,you must provide this notice to them. The information we collect and use includes details such as your name, address and contact details and any other information that we collect about you in connection with the insurance cover from which you benefit. This information may include more sensitive details such as information about your health and any criminal convictions you may have. In certain circumstances, we may need your consent to process certain categories of information about you (including sensitive details such as information about your health and any criminal convictions you may have). Where we need your consent, we will ask you for it separately. You do not have to give your consent and you may withdraw your consent at any time. However, if you do not give your consent, or you withdraw your consent, this may affect our ability to provide the insurance cover from which you benefit and may prevent us from providing cover for you or handling your claims. The way insurance works means that your information may be shared with, and used by, a number of third parties in the insurance sector for example, insurers, agents or brokers, reinsurers, loss adjusters, sub-contractors, regulators, law enforcement agencies, fraud and crime prevention and detection agencies and compulsory insurance databases. We will only disclose your personal information in connection with the insurance cover that we provide and to the extent required or permitted by law. We will process individual insured's details, as well as any other personal information you provide to us in respect of your insurance cover, in accordance with our privacy notice and applicable data protection laws. To enable us to use individual insured's details in accordance with applicable data protection laws, we need you to provide those individuals with certain information about how we will use their details in connection with your insurance cover. You agree to provide to each individual insured this notice, on or before the date that the individual becomes an individual insured under your insurance cover or, if earlier, the date that you first provide information about the individual to us. We are committed to using only the personal information we need to provide you with your insurance cover. To help us achieve this, you should only provide to us information about individual insureds that we ask for from time to time. You have rights in relation to the information we hold about you, including the right to access your information. If you wish to exercise your rights, discuss how we use your information or request a copy of our full privacy notice,please contact us directly at data protection@cfc.com. For more information about how we use your personal information please see our full privacy notice,which is available online on our website at: http://www.cfc.com/privacy Unioue Market Reference No.B087525C9N5047 00999-2026 CFC Underwriting Limited.All rights reserved. scfc OTHEIRCOSTS, . CHAIRGES A Policy Administration Fee may be charged by CFC Underwriting Limited for administration costs incurred by it for its role in the distribution of this policy. Any applicable Policy Administration Fee: a. is separate from and in addition to the premium stated in the Declarations page; b. is not subject to any tax that would otherwise be applied to the premium;and c. constitutes a separate agreement between the Insured stated in the Declarations page and CFC Underwriting Limited which will come into effect upon inception of the policy. If a Policy Administration Fee is applicable then it will be deemed fully earned upon inception of this policy and it will not be refundable in the event this policy is cancelled in accordance with the terms and conditions of this policy Unique Market Reference No.B087525C9N5047 5:1999-2026 CFC Underwriting Limited.All rights reserved. cfc . . INSURER INFORMATION POLICY NUMBER: ES00840644983 THE INSURED: City Of Canton THE INCEPTION DATE: 17Jan 2026 This page provides the details of the lead insurer for the cover purchased under this Policy. These details are provided to you to confirm which syndicates are providing this cover and the security of this Policy. Coverage: INSURING CLAUSE 1:CYBER INCIDENT RESPONSE INSURING CLAUSE 2:CYBER CRIME INSURING CLAUSE 3:CYBER EXTORTION INSURING CLAUSE 4:SYSTEM DAMAGE AND BUSINESS INTERRUPTION INSURING CLAUSE S: NETWORK SECURITY&PRIVACY LIABILITY INSURING CLAUSE 6:CRIMINAL REWARD COVER INSURING CLAUSE 7:MEDIA LIABILITY U M R: B087525C9N5047 Underwriters: Underwritten by certain underwriters at Lloyd's and other insurers Led By: CFC 1988 Uniaue Market Reference No.B087525C9N5047 41999-2026 CFC Underwriting Limited.All rights reserved. sCfC CONDITIONSUBJECTIVITY . ATTACHING TO POLICY ESO0840644983 NUMBER: THE INSURED: City Of Canton WITH EFFECT FROM: 17 Jan 2026 It is understood and agreed that the following CONDITION is added to this Policy: Subjectivities The cover provided by this Policy is conditional upon you providing us with some additional information as detailed in the table below together with the dates by which we must have received this information. Additional information: Due date: Satisfactory confirmation that you have downloaded& 16 Feb registered our incident response mobile app,details of which 2026 can be found with your policy documents. Upon receiving this additional information we reserve the right to change the terms or conditions of this Policy, including amending the premium, or to issue notice of cancellation in accordance with the "Cancellation"CONDITION. If we change the terms or conditions of this Policy, this constitutes a counteroffer which you may accept or decline. If you decline our counteroffer we will issue notice of cancellation in accordance with the "Cancellation"CONDITION. If the additional information is not received by the due dates shown in the table above we may, at your request, consider extending the due dates or we may issue a notice of cancellation in accordance with the "Cancellation"CONDITION. SUBJECT OTHERWISE TO THE TERMS AND CONDITIONS OF THE POLICY Unique Market Reference No.B08752SC9NS047 V999-2026 CFC Underwriting Limited.All rights reserved. scfc AMENDATORYPUBLIC ENTITY . ATTACHING TO POLICY ESO0840644983 NUMBER: THE INSURED: City Of Canton WITH EFFECT FROM: 17 Jan 2026 It is understood and agreed that the following amendments are made to this Policy: 1. The DEFINITION of"Company" is deleted in its entirety and replaced with the following: "Company" means the organization stated in the Declarations page and any of its departments or divisions that are included within the operating budget provided to us byyou in your application for this insurance. 2. The DEFINITION of"Senior executive officer" is deleted in its entirety and replaced with the following: "Senior executive officer" means board members and executive committee members of the company or any individual holding an equivalent position in the company. SUBJECT OTHERWISE TO THE TERMS AND CONDITIONS OF THE POLICY Unique Market Reference No.B087525C9N5047 . 1999-2026 CFC Underwriting Limited.All rights reserved. � cfc POLICYHOLDER DISCLOSURE NOTICE OF TERRORISM INSURANCE COVERAGE ATTACHING TO POLICY ESO0840644983 NUMBER: THE INSURED: City Of Canton WITH EFFECT FROM: 17 Jan 2026 Coverage for acts of terrorism is included in your policy. You are hereby notified that under the Terrorism Risk Insurance Act, as amended in 2015,the definition of act of terrorism has changed.As defined in Section 102(1) of the Act: The term "act of terrorism" means any act or acts that are certified by the Secretary of the Treasury—in consultation with the Secretary of Homeland Security, and the Attorney General of the United States—to be an act of terrorism; to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. Under your coverage,any losses resulting from certified acts of terrorism may be partially reimbursed by the United States Government under a formula established by the Terrorism Risk Insurance Act, as amended. However, your policy may contain other exclusions which might affect your coverage, such as an exclusion for nuclear events. Under the formula, the United States Government generally reimburses 85% through 2015; 84% beginning on January 1, 2016; 83% beginning on January 1, 2017; 82% beginning on January 1, 2018; 81% beginning on January 1, 2019 and 80% beginning on January 1, 2020, of covered terrorism losses exceeding the statutorily established deductible paid by the insurance company providing the coverage. The Terrorism Risk Insurance Act, as amended, contains a $100 billion cap that limits U.S. Government reimbursement as well as insurers' liability for losses resulting from certified acts of terrorism when the amount of such losses exceeds $100 billion in any one calendar year. If the aggregate insured losses for all insurers exceed $100 billion, your coverage may be reduced. The portion of your annual premium that is attributable to coverage for acts of terrorism is USD0.00 and does not include any charges for the portion of losses covered by the United States government under the Act. SUBJECT OTHERWISE TO THE TERMS AND CONDITIONS OF THE POLICY Unique Market Reference No.B087525C9N5047 91999-2026 CFC Underwriting Limited.All rights reserved.