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City Forgoes Cyber Liability Insurance

WGIL Newsroom . Local News 440

The City of Knoxville has been considering taking out a 1-million dollars cyber liability insurance policy.

Currently the City has a policy that protects them up to $50,000 in the instance the City’s computers are hacked or an employee leaks sensitive material.

City Attorney Rob McCoy was ask to review the policy and told aldermen for the price of the policy you’re not really getting that much more protection.

“I don’t think your at that much risk, famous last words and something will happen, since there isn’t a large computer presence and it does have a pretty big extension as well as exclusion in the policy, in that excluded from coverage is any breech of security from any current or passed employees so outside hacker hacks really be covered by this.”

Aldermen agreed with McCoy’s recommendation and no action was taken.

Also during Monday night’s meeting aldermen were informed the former Knoxville Hardware store was sold and would be turned into the Knoxville Mercantile.

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