Exhibit 2 - Recommendation Letter
9/29/2023
City of Denton
215 E McKinney
Denton, TX 76201
Re: City of Denton 10/1/2023-2024 Cyber Insurance Renewal Proposal
To Whom it May Concern:
Thank you for the opportunity to assist the City of Denton with the 10/1/2023-2024 Cyber insurance
policy renewal.
The Cyber Insurance market has seen significant change over the last 12 months. Insurers are eager
to grow their cyber premium and willing to deploy capital and outbid competitors in order to secure
new and existing business. After seeing sizable rate increases in 2021 and 2022, buyers are now often
able to renew flat or with reductions of 5% to 7%.
Lockton conducted a targeted marketing exercise and approached numerous Cyber Insurers including
the incumbent carrier, Corvus.
Resilience and Corvus were able to present the most competitive retentions, terms & conditions, and
pricing. Resilience was able to generate premium savings for Denton by bundling the policy with their
EDGE Cybersecurity Services & Resources. Corvus leveraged the historical relationship with the City of
Denton to present competitive pricing.
Lockton recommends that the City of Denton renew the 10/1/2023-2024 Cyber Insurance Program
with Resilience and Corvus. Thank you again for allowing Lockton to assist with the placement of this
Cyber insurance policy. Please let us know if you have any questions regarding this renewal.
Sincerely,
Neil Cohen
Senior Vice President, Practice Leader
Lockton Companies
LOCKTON COMPANIES 214.969.6700
2100 Ross Avenue, Suite 1400, Dallas, TX 75201-6706 lockton.com