Broken Arrow City Council
Meeting of: December 16, 2025
Title:
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Approval of and authorization to execute a Cyber Policy with Travelers Casualty and Surety Company of America to be effective January 1, 2026
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Background:
To protect the City from liability and disruption from a cyber-attack, the City desires to renew a CyberRisk insurance policy from Travelers Casualty and Surety Company of America. Travelers Casualty has provided the City's cyber policy coverage since January 1, 2020. The current policy held through Travelers for calendar year 2025 is $66,798.00; the renewal recommendation (Option 2), comes with increased policy limits for calendar year 2026 and came in at a reduced rate of $60,216.00.
To ensure diligence of provided services and premiums, a subsequent quote from Travelers was received and reviewed. No other quotes were received as it has become increasingly difficult over the years to find Cyber policy offerings for municipalities due to the number of losses around the country.
A thorough review was made of both quotes received. Option 1 has lower limits and came in at $54,401. Increased limits are available with Option 2 and requires the city to verify payee account change and wire information, which the city can commit to.
Staff recommends approval of the renewed CyberRisk policy, Option 2, with Travelers Casualty and Surety Company of America to be effective January 1, 2026. With a policy renewal from Travelers, we benefit from holding their policy for the last several years and they have a seamless policy renewal for the City of Broken Arrow.
The CyberRisk Policy aggregate limit is $3,000,000 with a $25,000 deductible. Travelers Casualty and Surety Company of America is a subsidiary of The Travelers Companies, Inc., and has earned high ratings for financial strength and claims-paying ability from independent rating services, including a current A.M. Best rating of A++. Founded in 1853, The Travelers Companies, Inc. i...
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