Label
Cyber Insurance
Law/Risk Management
M. Walton (x1037)
Revised
Title
Authorizing the Mayor to purchase a cyber liability insurance policy from Coalition Insurance Solutions, Inc. for the purpose of protecting the City’s cyber network for a period of one year with an option to renew for three additional one-year periods subject to annual appropriations; authorizing the annual expenditure of $109,813 from the Risk Management Fund; waiving the formal competitive bidding requirements of TMC 187; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The city maintains a blanket “all-risk” cyber liability insurance policy covering its cyber network. Coalition Insurance Solutions, Inc. (“Coalition”) has provided insurance coverage for the city for the past year. Since the last renewal in May 2025, the Hylant Group has again priced the market and negotiated the most reasonable rate charged to the City for the insurance coverage with Coalition, which offers the maximum and best coverage, inspection, and protection support at the most reasonable and fair premium cost.
This ordinance authorizes the Mayor to enter into a contract for cyber insurance for the period from May 1, 2026 to May 1, 2027 with the option of renewing for three additional one-year periods subject to annual appropriations. This commitment, from the City to Coalition and from Coalition to the City is a favorable outcome for the City both in terms of liability coverage and in providing the City with additional tools to develop and implement cybersecurity safeguards and protections.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. The Mayor is authorized to enter into an agreement for the purchase of a blanket “all risk” cyber liability insurance policy with Coalition Insurance Solutions, Inc. through the Hylant Group with a policy period of May 1, 2026 through May 1, 2027 and the option to renew for three additional one-year periods subject to annual appropriations.
SECTION 2. That subject to future appropriations the expenditure of an amount not to exceed $109,813 annually is authorized from the Risk Management Fund Account Code 7095-12000-1157001STDSTD for the purpose and over the term specified in Section 1.
SECTION 3. That this Council finds and determines it is in the best interest of the City to waive the formal competitive bidding requirements of TMC 187 for the reason that the premium rate provides the City with the best coverage at a time when cyber liability insurance rates have substantially increased and continue to rise.
SECTION 4. The Director of Finance is authorized to draw a warrant or warrants against above Account Code in payment of the obligation authorized in amounts not to exceed those authorized above upon presentation of the proper voucher or vouchers.
SECTION 5. That this Ordinance is declared to be an emergency measure and shall be in force and effect from and after its passage. The reason for the emergency lies in the fact that the same is necessary for the immediate preservation of the public peace, health, safety and property, and for the further reason that the Ordinance must be immediately effective to provide cyber liability insurance protection for the City of Toledo.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council