Decision

That the Director of
Corporate Services be given delegated authority to enter into a
contract with the preferred bidder that provides the most suitable
terms and conditions of insurance in the event of a cyber attack.

Reasons for the decision

Insuring the Council
against possible losses following a cyber
attack ensures that the Council has adequate provision for
incident response costs:- Legal and Regulatory Costs, IT Security
and Forensic costs, Crisis Communication costs, Privacy Breach
Management costs, System and Damage Rectification costs, Direct
Loss of Profits and Increased Cost of Working, Network Security
& Privacy Liability, Management Liability, Regulatory Fines,
PCI Fines, Penalties and Assessments, Media Liability, Intellectual
Property Rights Infringement and Court Attendance Costs.

Alternative options considered

An alternative option
would have been to not award a contract to the preferred
supplier.  However this option was
discounted as the Council would be uninsured in the event of a
cyber attack which could leave the
Council exposed to considerable financial and reputational
risk.