Hackers try 24/7 to gain access to utility networks through SCADA, metering, and other utility systems as well as vendors’ systems connected to the utility networks. Along with searching for ways to disrupt operations, these cyber criminals target the financial and social security data of utility customers and employees.
Because no technology solution can offer 100% protection against an intrusion, insurance policies secured by Marsh USA mitigate the utility’s financial and reputational risks.
Marsh USA provides cyber liability insurance services as part of the Hometown Connections Cybersecurity Program.
Your Partner for Cyber Liability Insurance
Insurance protection designed specifically for public power utilities with lower rates & broader terms for property, cyber, and employee benefits coverage
Benefits
The benefits of the cyber insurance program for community-owned utilities include:
- Claims Process Management
- Legal Services
- Computer Forensic Services
- Notification/Call Center Services
- Fraud Resolution Services
- Public Relations and Crisis Management Services
- $0 deductible available for entities with <$100m in revenues
- Purchase organized by joint action agency or state association
- Bundling cyber policies brokered by Marsh USA with the monitoring and vulnerability assessment services of Hometown’s cybersecurity partner Acumen
IMEA elected to carry the cyber liability insurance because it made the most financial sense for us versus taking the risk if there was an intrusion on the metering system. In addition, Moody’s and other investment rating services have now begun factoring in cyber liability exposure when issuing bond ratings.
— Kevin Gaden, President and CEO at Illinois Municipal Electric Agency
Features
GreatBlue provides solutions that impact organization, operations, and marketing effectiveness through a diverse set of research methodologies, including telephone interviews, digital surveys (web and mobile-based survey programs) and focus group sessions.
- Liability from a data breach in which customers’ or employees’/retirees personal information [e.g., Social Security, Medical Information or credit card numbers] are exposed or stolen
- Expenses associated with a data breach including notification costs, credit monitoring, and legal costs
- Costs associated with Regulatory Fines & Penalties (HIPPA, NERC, FERC, Payment Cards, etc.)
- Liability arising from erroneous website media content, as well as costs associated with data recovery, computer fraud, funds transfer loss, and cyber extortion
- Emergency access to professional services to handle data breach crisis management and limit reputational harm
- Free Cyber Risk Evaluation and Report
- 24/7 Cyber Incident Triage Hotline
Loss Estimate Calculator
Marsh has developed a proprietary loss estimate calculator exclusively for members of the American Public Power Association. Marsh can input into its predictive model utility revenue and number of customers to estimate the cost of both a data breach (including ransomware) and business interruption loss following a cyber-attack.
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