Due to recent news coverage of a major cyber penetration of U.S. government agencies and corporations across the globe, cybersecurity is front and center for city governments and their municipal utility departments. Before reaching out to consultants prepared to help evaluate cyber vulnerabilities and design a protection program, each community-owned utility should gather a baseline of information about their cybersecurity status. This outline will help the utility and potential consultants focus more quickly on the issues to be addressed.
Cyber Liability Insurance
You don’t need to be an expert in IT or have a huge consulting budget to champion your utility’s cybersecurity program. First and foremost, you must recognize that every city employee, utility employee, and governing official plays a key role in maintaining a cyber defense that protects business operations.
To meet public power’s need for cybersecurity solutions that are comprehensive and cost effective, Hometown Connections, Inc. has launched a Cybersecurity Management Program for public power electric, gas, water, and wastewater utilities and other city departments. Hometown Connections is helping community-owned organizations across the United States evaluate their cybersecurity requirements, develop plans for cyber risk management, and deploy effective cybersecurity defenses that include ongoing monitoring, training, remediation, and maintenance services.
Understand the cyber threat landscape, learn how to estimate the true financial costs of a cyber crime, and get tips on building your budget and risk management strategies. Register for this two-part webinar series to be held in June 2020 by the American Public Power Association Academy. Speakers include representatives from AESI-US, Inc. and Marsh Wortham Power Gen Insurance, marketing partners of Hometown Connections Inc.
For cyber criminals and the organizations they are targeting, it’s the wild west out there. The scourge of COVID-19 is driving workers to log in from home and widening the utility attack surface even further. Community-owned utilities are victims of ransomware and other attacks at an alarming rate. As part of their cybersecurity risk management efforts, utilities should investigate the financial and operational security provided by the cyber liability insurance program from Marsh Wortham Power Gen Insurance through Hometown Connections, Inc.
The COVID-19 pandemic raises many issues for both insureds and insurers. As events continue to unfold, organizations should work closely with their advisors and counsel to address their myriad concerns. In a new report, COVID-19: Evolving Insurance and Risk Management Implications, Marsh provides an overview of some of the key coverage, claims, and risk management areas related to the pandemic and also looks at how businesses can actively respond to current effects while continuing to plan and prepare for future ones.