Cyber Liability Insurance

The State of Arkansas is seeking bids for a master cyber liability insurance contract to cover two separate and distinct trust fund programs insuring 166 state agencies and 19 public school districts and educational cooperatives. The contract will have an initial term of one year, with the option to renew for up to six additional one-year terms. The successful bidder will be required to provide insurance coverage on a composite rate basis for all participating governmental entities, with the option to add or remove entities during the policy year. The contractor will also be responsible for providing a dedicated account manager, claims breach manager, and other support staff. • The contract will require the provision of cyber liability insurance coverage, including first-party and third-party coverage, as well as coverage for network security breaches, privacy breaches, and confidentiality breaches. • The contractor will be required to provide a dedicated account manager with at least three years of experience in commercial cyber liability insurance. • The contractor will be responsible for providing claims management and reporting, including the preparation of monthly loss history reports. • The contract will have a maximum term of seven years, with the option to renew for up to six additional one-year terms.