Title
Insurance and Risk Management Advisory Board Meeting of March 15, 2022.
Body
OPENING:
Chair Juan C. Diaz-Padron opened the meeting. Meeting was called to order at 8:05am. Quorum was reached. Everyone introduced themselves for the record.
MINUTES APPROVAL:
February 11, 2022 minutes
Motion: *Paul Susz / 2nd Motion: Austin Tellam
*Mr. Susz advised of change required reflecting statement indicated by Ms. Perez regarding increase of the renewal. The changes are to include in the 4th paragraph under Old Business that Maria Perez expects an overall increase in premium of 7-10% (excluding cyber risk). Changes were noted for the record.
All approved unanimously with above changes made.
SECRETARY’S REPORT: None
BOARD MEMBERS REPORTS: None
NEW BUSINESS: None
OLD BUSINESS:
Mr. Diaz-Padron asked about the current status of the cyber risk renewal. Raquel advised that it is a very hard market and that some other entities are going without cyber risk and instead having a several experts on retainer in the event of a breach. She also advised that FMIT’s quote includes cyber risk coverage. David Ruiz mentioned that the FMIT cyber risk coverage is not a separate coverage but part of the FMIT package with a $1,000,000 limits, but that further clarification will be needed from FMIT regarding what else is covered, for example ransomware.
Cyber Presentation: Mr. Raimundo Rodulfo- Information Technology Director
Director Rodulfo advised the Board the City is compliant with FDI, FDLE, CALEA, and PCI.
Mr. Rodulfo explained to Board the various layers of security and safety practices conducted by the City as it relates to IT. Mr. Rodulfo spoke in detail of audits conducted by top outside sources/consultants on the City’s IT security practices and infrastructure. Mr. Rodulfo advised the current onsite team that composes the IT program and monitoring of systems have received numerous trainings and obtain various certifications. Mr. Rodulfo explained how the ...
Click here for full text