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4.09 C 4.9 INSURANCE\Cyber Crime Insurance Agent for 2023-2024—Travelers—Marshall Sterling to Obtain—6-19-2023 RESOLUTION AUTHORIZING MARSHALL & STERLING UPSTATE, INC. TO OBTAIN TOWN OF QUEENSBURY CRIME AND CYBER INSURANCE COVERAGES FROM TRAVELERS INDEMNITY COMPANY EFFECTIVE JULY 1, 2023 -JUNE 30, 2024 RESOLUTION NO.: ,2023 INTRODUCED BY: WHO MOVED FOR ITS ADOPTION SECONDED BY: WHEREAS, the Queensbury Town Board wishes to authorize the Town Budget Officer and Marshall & Sterling Upstate, Inc., to obtain Crime and Cyber Liability insurance coverages from The Travelers Indemnity Company effective July 1St, 2023 —June 30th, 2024,in accordance with Travelers' June 14, 2023 Proposal presented at this meeting, NOW,THEREFORE, BE IT RESOLVED, that the Queensbury Town Board hereby authorizes and directs the Town Budget Officer and Marshall& Sterling Upstate, Inc., to obtain Crime and Cyber Liability insurance coverages from The Travelers Indemnity Company effective July 1st, 2023 —June 30th, 2024, in accordance with Travelers' June 14, 2023 Proposal presented at this meeting,and BE IT FURTHER, RESOLVED, that the Town Board further authorizes and directs the Town Supervisor to execute any and all documentation to effectuate such insurance coverage and the Town Supervisor and/or Town Budget Officer to take any actions necessary to effectuate the terms of this Resolution. Duly adopted this 19th day of June, 2023,by the following vote: AYES : NOES : ABSENT: c TRAVELERS J Ira +® April Douglas PO Box 2950 Hartford, CT 06104-2950 Phone: (518)454-4901 Fax: (518)862-5808 Email: ADOUGLAS@travelers.com June 14, 2023 MARY WEIL MARSHALL&STERLING UPST 300 RTE 23B LEEDS, NY 12451 RE: Insured Name: TOWN OF QUEENSBURY 742 BAY ROAD QUEENSBURY, NY 12804 Expiring Policy Number: N/A Policy Period: July 1,2023 to July 1, 2024 Dear MARY WEIL: On behalf of Travelers Casualty and Surety Company of America we are pleased to provide the attached proposal of insurance for your review. The quotes contained in this document are valid until the expiration of your current policy, and are subject to the provision of, and Travelers' review and acceptance of, the required underwriting information noted in the Contingencies section. Travelers reserves the right to change the quotes in this document, or to refuse to bind coverage entirely, based on review of the required underwriting information or based on adverse change in the risk(s)to be insured prior to the quote expiration date noted in this document. Travelers is pleased to offer Risk Management PLUS+ Online®, the industry's most comprehensive program for mitigating your management liability exposures, which is available to you at no additional cost. Please visit www.rmplusonline.com to view the services that are available. If you have additional questions about the site please contact your Underwriter. Travelers Casualty and Surety Company of America, a subsidiary of The Travelers Companies, Inc., has consistently 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. is a Fortune 500 company, a component of the Dow Jones Industrial Average, and a leading provider of property casualty insurance for businesses. Thank you for considering Travelers for your client's insurance coverages. We look forward to discussing this opportunity with you. Sincerely, April Douglas Travelers Bond &Specialty Insurance *A.M. Best's rating of A++applies to Travelers Casualty and Surety Company of America as well as to certain insurance subsidiaries of Travelers that are members of the Travelers Insurance Companies pool;other subsidiaries are included in another rating pool or are separately rated. For a listing of companies rated by A.M. Best and other rating services visit www.travelers.com. Ratings listed herein are as of July 2022, are used with permission, and are subject to changes by the rating services.For the latest rating,access www.ambest.com. LTR-4000 Rev.07-16 Page 1 of 5 ©2016 The Travelers Indemnity Company. All rights reserved. Travelers Casualty and Surety Company of America QUOTE OPTION#1 CRIME COVERAGES: Crime Single Loss Single Crime Single Loss Single Insuring Limit of Loss Insuring Limit of Loss Agreements Insurance Retention Agreements Insurance Retention A- Fidelity F- Computer Crime 1.Employee Theft $2,000,000 $10,000 1. Computer Fraud $1,000,000 $10,000 2.ERISA Fidelity Not Covered 2. Computer Program and Electronic Not Covered 3.Employee Theft of Client Not Covered Data Restoration Expense Property B- Forgery or Alteration $25,000 $1,000 G- Funds Transfer Fraud $1,000,000 $10,000 C- On Premises $25,000 $1,000 H- Personal Accounts Protection 1.Personal Accounts Forgery or Alteration Not Covered 2.Identity Fraud Expense Reimbursement Not Covered D- In Transit $25,000 $1,000 I- Claim Expense $5,000 $0 E- Money Orders and Not Covered Counterfeit Money Insured's Premises Covered: Worldwide,except Not Applicable CYBER COVERAGE: Liability Limit Retention Privacy and Security $1,000,000 $15,000 Payment Card Costs $1,000,000 Subject to Privacy and Security Retention Media $1,000,000 $15,000 Regulatory Proceedings $1,000,000 $15,000 Breach Response Limit Retention Privacy Breach Notification $1,000,000 $15,000 Computer and Legal Experts $1,000,000 $15,000 Betterment $100,000 Cyber Extortion $1,000,000 $15,000 Data Restoration $1,000,000 $15,000 Public Relations $1,000,000 $15,000 Cyber Crime Limit Retention Computer Fraud $100,000 $5,000 Funds Transfer Fraud $100,000 $5,000 Social Engineering Fraud $100,000 $5,000 Telecom Fraud $100,000 $5,000 Business Loss Limit Retention Business Interruption $1,000,000 Dependent Business Interruption $100,000 LTR-4000 Rev. 07-16 Page 2 of 5 ©2016 The Travelers Indemnity Company. All rights reserved. Dependent Business Interruption-System $100,000 Failure Dependent Business Interruption-Outsource $100,000 Provider Dependent Business Interruption-Outsource $100,000 Provider-System Failure Reputation Harm $1,000,000 $15,000 System Failure $1,000,000 Additional First Party Provisions Accounting Costs Limit: $25,000 Betterment Coparticipation: 50% Period Of Restoration: 180 days Period Of Indemnity: 30 days Wait Period: 12 hours Knowledge Date: July 01, 2023 P&P Date: July 01, 2023 Retro Date: N/A TOTAL ANNUAL PREMIUM-$20,791.00 (Other term options listed below, if available) LIMIT DETAIL: Shared Additional Defense Limit of Liability: N/A Crime Policy Aggregate Limit of Insurance: N/A CyberRisk Policy Aggregate Limit: $1,000,000 EXTENDED REPORTING PERIOD AND RUN-OFF: Extended Reporting Period for Cyber Coverage: Additional Premium Percentage: 75% Additional Months: 12 Run-Off Extended Reporting Period for Cyber Coverage: Additional Premium Percentage: N/A Additional Months: N/A CLAIM DEFENSE FOR ASSOCIATION MANAGEMENT LIABILITY COVERAGE,LIABILITY COVERAGES AND/OR CYBER COVERAGE: Duty to Defend PREMIUM DETAIL: Term Payment Premium Taxes Surcharges Total Total Term Type Premium Premium 1 Year Prepaid $20,791.00 $0.00 $0.00 $20,791.00 $20,791.00 LTR-4000 Rev.07-16 Page 3 of 5 ©2016 The Travelers Indemnity Company. All rights reserved. POLICY FORMS APPLICABLE TO QUOTE OPTION#1: ACF-2001-0222 Modular Declarations Page AFE-16001-0119 General Conditions CRI-3001-0109 Crime Policy Form CYB-16001-0620 CyberRisk Coverage CYB-16001-TOC-0620 CyberRisk Table of Contents ENDORSEMENTS APPLICABLE TO QUOTE OPTION#1: ACF-7003-0110 New York Timely Notice and Direct Action Endo'rsement ACF-7006-0511 Removal of Short-Rate Cancellation Endorsement ACF-7007-0811 Cross-Coverage Notice Endorsement AFE-17017-0519 New York Changes Endorsement AFE-19002-0119 New York Free Trade Zone Filing Exemption and Class Code Disclosure AFE-19029-0719 Cap On Losses From Certified Acts Of Terrorism Endorsement AFE-19030-0920 Federal Terrorism Risk Insurance Act Disclosure Endorsement CRI-17001-0317 New York Insurance Regulation 209 Endorsement CRI-19060-0713 Replace General Agreement E-Change of Control-Notice Requirements Endorsement CRI-19072-0315 Global Coverage Compliance Endorsement—Adding Financial Interest Coverage and Sanctions Condition and Amending Territory Condition CRI-19085-0919 Social Engineering Fraud Insuring Agreement Endorsement CRI-19101-1117 Amendatory Endorsement for Certain ERISA Considerations CRI-19115-0519 Telecommunication Fraud Insuring Agreement Endorsement CRI-19122-1120 Delete Exclusion For Prior Losses Involving Subsidiaries Endorsement CRI-5033-0613 New York Cancellation or Termination Endorsement CYB-19102-0620 Dependent Business Interruption-System Failure Endorsement CYB-19104-0620 Dependent Business Interruption-Outsource Provider Endorsement CYB-19105-0119 Conviction Reward Endorsement CYB-19122-0519 Vendor Or Client Payment Fraud Endorsement CYB-19123-0519 Bricked Equipment Endorsement LIA-4043-0615 New York Changes Endorsement LIA-5031-0511 New York Cancellation and Nonrenewal Endorsement CONTINGENCIES APPLICABLE TO QUOTE OPTION#1: This quote is contingent on the acceptable underwriting review of the following information prior to the quote expiration date. 1 Travelers cyber application QUOTE NOTES: NOTICES: It is the agent's or broker's responsibility to comply with any applicable laws regarding disclosure to the policyholder of commission or other compensation we pay, if any, in connection with this policy or program. Important Notice Regarding Compensation Disclosure For information about how Travelers compensates independent agents, brokers, or other insurance producers, please visit this website: http://www.travelers.com/w3c/legal/Producer Compensation_Disclosure.html If you prefer,you can call the following toll-free number: 1-866-904-8348. Or you can write to us at Travelers,Agency Compensation, LTR-4000 Rev. 07-16 Page 4 of 5 ©2016 The Travelers Indemnity Company. All rights reserved. P.O. Box 2950, Hartford, CT 06104-2950. FEDERAL TERRORISM RISK INSURANCE ACT DISCLOSURE The federal Terrorism Risk Insurance Act of 2002 as amended ("TRIA"), establishes a program under which the Federal Government may partially reimburse "Insured Losses" (as defined in TRIA) caused by"Acts Of Terrorism" (as defined in TRIA).Act Of Terrorism is defined in Section 102(1)of TRIA to mean any act that is certified by the Secretary of the Treasury -in consultation with the Secretary of Homeland Security and the Attorney General of the United States -to be an act of terrorism;to be a violent act or an act that is dangerous to human life, property, or infrastructure; to have resulted in damage within the United States, or outside the United States in the case of certain air carriers or vessels or the premises of a United States Mission; and to have been committed by an individual or individuals as part of an effort to coerce the civilian population of the United States or to influence the policy or affect the conduct of the United States Government by coercion. The Federal Government's share of compensation for such Insured Losses is 80%of the amount of such Insured Losses in excess of each Insurer's"Insurer Deductible"(as defined in TRIA),subject to the"Program Trigger"(as defined in TRIA). In no event, however, will the Federal Government be required to pay any portion of the amount of such Insured Losses occurring in a calendar.year that in the aggregate exceeds $100 billion, nor will any Insurer be required to pay any portion of such amount provided that such Insurer has met its Insurer Deductible. Therefore, if such Insured Losses occurring in a calendar year exceed $100 billion in the aggregate, the amount of any payments by the Federal Government and any coverage provided by this policy for losses caused by Acts Of Terrorism may be reduced. For each coverage provided by this policy that applies to such Insured Losses, the charge for such Insured Losses is no more than one percent of your premium, and does not include any charge for the portion of such Insured Losses covered by the Federal Government under TRIA. Please note that no separate additional premium charge has been made for coverage for Insured Losses covered by TRIA.The premium charge that is allocable to such coverage is inseparable from and imbedded in your overall premium. Coverage Disclaimer: THIS QUOTE DOES NOT AMEND, OR OTHERWISE AFFECT, THE PROVISIONS OR COVERAGE OF ANY RESULTING INSURANCE POLICY ISSUED BY TRAVELERS. IT IS NOT A REPRESENTATION THAT COVERAGE DOES OR DOES NOT EXIST FOR ANY PARTICULAR CLAIM OR LOSS UNDER ANY SUCH POLICY. COVERAGE DEPENDS ON THE APPLICABLE PROVISIONS OF THE ACTUAL POLICY ISSUED, THE FACTS AND CIRCUMSTANCES INVOLVED IN THE CLAIM OR LOSS AND ANY APPLICABLE LAW. THE PRECEDING OUTLINES THE COVERAGE FORMS, LIMITS OF INSURANCE, POLICY ENDORSEMENTS AND OTHER TERMS AND CONDITIONS PROVIDED IN THIS QUOTE. ANY POLICY COVERAGES, LIMITS OF INSURANCE, POLICY ENDORSEMENTS, COVERAGE SPECIFICATIONS, OR OTHER TERMS AND CONDITIONS THAT YOU HAVE REQUESTED THAT ARE NOT INCLUDED IN THIS QUOTE HAVE NOT BEEN AGREED TO BY TRAVELERS. PLEASE REVIEW THIS QUOTE CAREFULLY AND IF YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR TRAVELERS REPRESENTATIVE. Affiliate(non-Subsidiary)Coverage Disclaimer: Regardless of the submission of information or typical availability of coverage for any entity that is not a Subsidiary of the Named Insured, such entity is not covered by the Policy unless an endorsement is provided that specifically schedules it. Under the Wrap+® policy, coverage is generally afforded to the following entities (unless otherwise excluded): (1) the Named Insured and (2) its majority-owned Subsidiaries. A Subsidiary is defined in each coverage part of the Wrap+® policy and the definition can vary between coverage parts. An affiliate is not defined but generally has some ownership and/or management in common with the Named Insured or its Subsidiaries (but itself is not a Subsidiary of either one). Affiliate coverage will not be considered on a blanket basis nor will an individual entity be scheduled without proper underwriting information (please contact your underwriter to discuss specific requirements). For an actual description of coverages, terms and conditions, refer to the Policy. Sample policies can be found on the travelers.com website or contact your underwriter. LTR-4000 Rev.07-16 Page 5 of 5 ©2016 The Travelers Indemnity Company. All rights reserved. TRAVELERS Travelers Casualty and Surety Company of America CyberRisk Short Form Application Claims-Made: The information requested in this Application is for a Claims-Made policy. If issued, the policy will apply only to claims first made during the policy period, or any applicable extended reporting period. Defense Within Limits: The limit of liability available to pay losses will be reduced and may be completely exhausted by amounts paid as defense costs. IMPORTANT INSTRUCTIONS This Application will only be accepted for Applicants with revenues of$50,000,000 or less and assets of$500,000,000 or less. Under this CyberRisk Coverage,affiliates,other than Subsidiaries as defined in this coverage,are not covered unless the Insurer has agreed specifically to schedule such entities by endorsement. GENERAL INFORMATION Name of Applicant: Street Address: City: State: Zip: Applicant website: Year Established: NAICS Code: Total assets as of most recent fiscal year-end: Annual revenues as of most recent fiscal year-end: $ $ Entity type(select all that apply): 0 Private 0 Nonprofit ❑Financial Institution ❑ Publicly Traded ❑ Franchisor or ❑ Homeowner or Franchisee Condo Association UNDERWRITING INFORMATION 1. Indicate whether the Applicant has: a. Up-to-date,active firewall technology 0 Yes ❑No b. Up-to-date,active anti-virus software on all computers,networks,and mobile devices ❑Yes 0 No c. A process in place to regularly download and install patches ❑Yes ❑No d. Backup and recovery procedures in place for all important business and customer data ❑Yes 0 No e. An incident response plan to respond to a network intrusion ❑Yes ❑No • f. A disaster recovery plan, business continuity plan, or equivalent to respond to a computer system disruption ❑Yes 0 No g. Controls to ensure the content of media communications and websites are lawful 0 Yes ❑ No h. Procedures in place which require service providers with access to the Applicant's systems or the Applicant's confidential information to demonstrate adequate network security controls ❑Yes 0 No i. Multi-factor authentication for remote access to email and other systems and programs that contain private or sensitive data in bulk ❑Yes ❑No 0 N/A 2. Is the Applicant currently compliant with Payment Card Industry Data Security Standards (PCI- DSS)? ❑Yes ❑No ❑N/A 3. Is the Applicant HIPAA compliant? 0 Yes ❑No 0 N/A 4. Indicate whether the Applicant encrypts private or sensitive data: a. While at rest in the Applicant's database or on the Applicant's network ❑Yes ❑No ❑N/A b. While in transit in electronic form 0 Yes ❑No ❑N/A c. While on mobile devices ❑Yes 0 No 0 N/A d. While on employee owned devices 0 Yes 0 No 0 N/A e. While in the care, custody,and control of a third party service provider ❑Yes ❑No 0 N/A CYB-14103 Ed.01-19 Page 1 of 3 ©2019 The Travelers Indemnity Company.All rights reserved. LOSS INFORMATION 5. In the past three years,has the Applicant: a. Experienced: (1) a network or computer system disruption due to an intentional attack or system failure; (2)an actual or suspected data breach;or(3)a cyber extortion demand? 0 Yes 0 No b. Received any complaints,claims,or been subject to any litigation involving: Matters of data protection law, intellectual property rights, defamation, rights of privacy, identity theft, denial of service attacks, computer virus infections, theft of information, damage to third party networks,or access to the Applicant's network? ❑Yes 0 No 6. Is the Applicant, any Subsidiary, or any person proposed for this insurance aware of any circumstance that could give rise to a claim against them under this CyberRisk coverage? 0 Yes 0 No If the Applicant answered Yes to any part of Question 5 or Question 6, attach details of each claim, complaint, allegation, or incident,including costs,losses,or damages incurred or paid,any corrective procedures to avoid such allegations in the future, and any amounts paid as loss under any insurance policy. REQUESTED INSURANCE TERMS 7. Requested Terms: Aggregate Limit Requested: $ Retention Requested: $ Effective Date Requested: 8. Does the Applicant currently purchase CyberRisk coverage? 0 Yes ❑ No If Yes,provide the following: Expiring Carrier: Expiring Limit: $ Date coverage first purchased? ORGANIZATIONS NOT ELIGIBLE FOR COVERAGE Coverage will not be considered for companies involved in whole or in part with paramilitary operations, pornography, adult entertainment,escort services,prostitution,or the manufacturing,distribution,or sale of marijuana. NOTICE REGARDING COMPENSATION For information about how Travelers compensates independent agents, brokers, or other insurance producers, please visit this website: htto:/iwww.travelers.core/w3c/legdi/Prociucer Compensation Disciosure.html If you prefer, you can call the following toll-free number: 1-866-904-8348. Or you can write to us at Travelers, Agency Compensation,One Tower Square, Hartford,CT 06183. FRAUD STATEMENTS—ATTENTION APPLICANTS IN THE FOLLOWING JURISDICTIONS ALABAMA,ARKANSAS,DISTRICT OF COLUMBIA,MARYLAND,NEW MEXICO,AND RHODE ISLAND:Any person who knowingly(or willfully in MD) presents a false or fraudulent claim for payment of a loss or benefit or who knowingly (or willfully in MD) presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison. COLORADO: It is unlawful to knowingly provide false, incomplete, or misleading facts or information to an insurance company to defraud or attempt to defraud the company. Penalties may include imprisonment,fines, denial of insurance, and civil damages.Any insurance company or agent of an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant to defraud or attempt to defraud the policyholder or claimant regarding a settlement or award payable from insurance proceeds will be reported to the Colorado Division of Insurance within the Department of Regulatory Agencies. FLORIDA: Any person who knowingly and with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing any false,incomplete,or misleading information is guilty of a felony of the third degree. KENTUCKY,NEW JERSEY,NEW YORK,OHIO,AND PENNSYLVANIA:Any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto commits a fraudulent insurance act,which is a crime and subjects such person to criminal and civil penalties.(In New York,the civil penalty is not to exceed five thousand dollars($5,000)and the stated value of the claim for each such violation.) LOUISIANA,MAINE,TENNESSEE,VIRGINIA,AND WASHINGTON:It is a crime to knowingly provide false,incomplete,or misleading information to an insurance company to defraud the company.Penalties include imprisonment,fines,and denial of insurance benefits. CYB-14103 Ed.01-19 Page 2 of 3 ©2019 The Travelers Indemnity Company.All rights reserved. OREGON: Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or who knowingly presents false information in an application for insurance may be guilty of a crime and may be subject to fines and confinement in prison. PUERTO RICO:Any person who knowingly and intending to defraud presents false information in an insurance application,or presents, helps,or causes the presentation of a fraudulent claim for the payment of a loss or any other benefit,or presents more than one claim for the same damage or loss,will incur a felony and,upon conviction,will be sanctioned for each violation with the penalty of a fine of not less than$5,000 and not over $10,000,or a fixed term of imprisonment for three years,or both penalties.Should aggravating circumstances be present,the penalty established may be increased to a maximum of five years;if extenuating circumstances are present,it may be reduced to a minimum of two years. SIGNATURES The undersigned Authorized Representative represents that to the best of his or her knowledge and belief, and after reasonable inquiry, the statements provided in response to this Application are true and complete, and, except in NC, may be relied upon by Travelers as the basis for providing insurance. The Applicant will notify Travelers of any material changes to the information provided. ❑Electronic Signature and Acceptance—Authorized Representative* *If electronically submitting this document, electronically sign this form by checking the Electronic Signature and Acceptance box above. By doing so, the Applicant agrees that use of a key pad, mouse, or other device to check the Electronic Signature and Acceptance box constitutes acceptance and agreement as if signed in writing and has the same force and effect as a signature affixed by hand. Authorized Representative Signature: Authorized Representative Name,Title,and email Date(month/dd/yyyy): X address: Producer Name(required in FL&IA): State Producer License No(required in FL): Date(month/dd/yyyy): X Agency: Agency contact and email address: Agency Phone Number: ADDITIONAL INFORMATION CYB-14103 Ed.01-19 Page 3 of 3 ©2019 The Travelers Indemnity Company.All rights reserved.