Cookeville City Council will consider a new cyber security insurance policy.
Chief Technology Officer Steve Corder said that their usual contractor is trying to move out of serving municipalities, and would be tripling the city’s price. He said that the new policy would cover costs up to $1 million, and would have a premium of just under $39,000.
“Hopefully we will never, ever, ever have to use this,” “But if we do, just to give you some context, Palo Alto Networks did a report in 2021 that said that the average ransomware attack can be for up to $500,000.”
City Manager James Mills said that after the county’s ransomware attack last year, this kind of insurance policy is important to be in place.
Corder said that he wants to do everything possible to protect city software.
“I believe in defense in depth,” Corder said. “And I’ve got things squirreled away all over town in hard-to-reach places. But if we have to have it, it would be good to have.”
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