FCCS News & Insights

Approved, Qualified Support for Cyber Security Breaches

The Farm Credit Captive Insurance Company (the “Captive”) is proud to announce a new partnership with law firms that have been well-positioned to support Farm Credit organizations and preapproved by Beazley Insurance, the System’s primary cyber insurer.

For cyber coverage to apply, System organizations need to engage with a preapproved vendor. This year, the Captive worked with District bank representatives to identify a shortlist of recommended firms suited to supporting System organizations facing a cyber event.

“Beazley’s list of approved cyber risk vendors is extensive, and the Captive wanted to pro-actively consider those firms that Beazley felt best equipped to address the needs of Farm Credit,” says Naomi Bauman, FCCS Vice President of Claims & Insurance Services.

Farm Credit organizations are welcome to utilize any firm on the Beazley preapproved list found here. At the Captive’s request, Beazley narrowed this list based on expertise, focus on cyber events for financial institutions and overall results; following Farm Credit’s review and interviews with Beazley’s list, the three recommended firms for Farm Credit are Mullen Coughlin, Octillo and Polsinelli. Learn more about the review process and the recommended firms here.

Each of these firms has a national presence to support all Farm Credit organizations, and each offers discounted pricing and do not require a retainer. In addition, they provide access to cyber experts, an understanding of and support for compliance with FCA cyber regulations, relationships with PR, forensic and other experts, and additional offerings such as tabletop exercise support and incident response planning to support individual organizations’ cyber security programs.

Read more about the cyber vendor review process here, or for information about Farm Credit’s cyber insurance program, contact Naomi Baumann, VP Claims & Insurance Services, FCCS at 303-721-3263 or via email.