Be prepared for changes in cybersecurity coverage

News about your cybersecurity insurance coverage

Dear KACo Insurance Program member,

Did you know that your KACo insurance coverage includes cybersecurity benefits? This coverage helps protect public entities mitigate losses sustained from data breaches, ransomware threats and phishing scams. Cyber incidents are on the rise across the globe, and local governments are often the targets of sophisticated digital attacks.

Unfortunately, cyberattacks often result in operational disruptions and multi-million-dollar losses. Many insurance carriers now require policyholders to implement several best practices to qualify for coverage. New eligibility requirements for KACo members could take effect as early as July 2023, so the time to review and enhance your organization’s cybersecurity protocol is now.

Included in this email is an overview of your current KACo cybersecurity policy benefits, guidelines to discuss with your IT staff or consultant, and information about what to do if you experience a cyber breach. In addition, you can download several informational flyers to hang up in your office that provide helpful cybersecurity tips and reminders for your staff.

Don’t let your community or organization be an easy target for hackers and digital thieves. Take steps now to prevent a cyber incident and maintain your cyber insurance coverage.

Thank you for being a KACo member and please reach out if you have any questions.

Sincerely,

Michael Ray, KACo Safety and Loss Control Manager

Download your toolkit

Cybersecurity Insurance Coverage from KACo

As a member of the KACo All Lines Fund, your insurance coverage includes cybersecurity benefits to protect your public entity in the event of a cyber incident. Hackers may target your personnel and customer data, operational functions, or financial accounts. If you experience a digital breach, KACo is here to help.

What's covered?

Privacy or security event liability – up to $1 million total
Privacy response expenses
Electronic equipment and electronic data damage
Network interruption costs
Cyber extortion

Download your Cybersecurity Coverage flyer here.

Cybersecurity checklist

These tips from the Kentucky Office of Homeland Security (KOHS) and U.S. Cybersecurity & Infrastructure Security Agency (CISA) represent a broad overview of cybersecurity best practices, many of which may soon be required to maintain cyber insurance eligibility.

Download the checklist here.

Use multifactor authentication for remote access tools and cloud services.
Identify critical information and back it up through external hard drives or a cloud service.
Keep operating systems up to date and turn on automatic updates.
Conduct periodic training for your staff and review cybersecurity awareness tips, including password security.
Sign up for free cybersecurity services from the Multi State Information Sharing and Analysis Center.
Develop an incident response and disaster recovery plan and test that plan.
Enable logging to document and monitor activity across your IT system.
Make cybersecurity a priority that starts at the top and is standard practice throughout your organization.
Conduct a vulnerability assessment to understand where you are strong and where you may need additional support.
Develop and implement a cybersecurity policy that outlines processes and procedures for all staff.

Filing a cyber incident insurance claim

To file a cyber incident insurance claim, contact KACo Claims Services at 866-367-5226.

We’ll get the claim set up, assigned to an adjuster, and engage our breach coach/cyber attorney.

The coach or attorney will reach out to a cyber forensics expert, law enforcement, and/or state

and federal agencies as necessary.

We take it from there!

You will be kept informed via frequent conference calls with involved parties. Legally required

reporting/filings will be directed by the breach coach to all mandated entities.

Stronger Counties. Stronger Kentucky.