Cyber insurance for utilities
Cyber insurance for city power systems
A city electric department wears two hats. It’s a city office with payroll, billing, and customer records, and it’s also running substations and metering that a lot of people count on.
A cyberattack can hit either side. Somebody locks up the billing system, or a phishing email gets a payment sent to the wrong bank, or somebody pokes around where the control systems connect to the office network.
What to look for in a policy
- Business interruption that counts a system outage, including control system outages if the policy includes them
- Ransomware and extortion, written in plainly
- Breach response for customer billing and payment data
- Funds transfer fraud
- Coverage for regulatory investigation costs where allowed
- An OT/ICS endorsement if control systems aren’t covered in the base form
What underwriters will ask
Expect questions about how your office network and your control systems are separated, who can get in remotely (including vendors), whether you use multi-factor login, and how you back up and restore.
See our quote checklist.
Ready to look at your cyber coverage?
Start with 7 quick questions, or call the office at 205-221-5466.