Common use of Cyber Insurance Clause in Contracts

Cyber Insurance. Contractor agrees to purchase and maintain throughout the term of the Agreement a technology/professional liability insurance policy, including coverage for network security/data protection liability insurance (also called “cyber liability”), covering liabilities for financial loss resulting or arising from acts, errors, or omissions in rendering technology/professional services or in connection with the specific services described in violation or infringement of any right of privacy, including: breach of security and breach of security/privacy laws, rules or regulations globally, now or hereinafter constituted or amended; data theft, damage, unauthorized disclosure, destruction, or corruption, including without limitation, unauthorized access, unauthorized use, identity theft, theft of personally identifiable information or confidential corporate information in whatever form, transmission of a computer virus or other type of malicious code, and participation in a denial of service attack on third party computer systems; loss or denial of service; no cyber terrorism exclusion, with a minimum limit of one million dollars ($1,000,000) each and every claim and in the aggregate. Such coverage must include technology/professional liability including breach of contract, privacy and security liability, privacy regulatory defense and payment of civil fines, payment of credit card provider penalties, and breach response costs (including without limitation, notification costs, forensics, credit protection services, call center services, identity theft protection services, and crisis management/public relations services). Such insurance must explicitly address all of the foregoing without limitation if caused by an employee of Contractor or an independent contractor working on behalf of Contractor in performing services under the Agreement. The policy must provide coverage for wrongful acts, claims, and lawsuits anywhere in the world. Such insurance must include affirmative contractual liability coverage for the data breach indemnity in the Agreement for all damages, defense costs, privacy regulatory civil fines and penalties, and reasonable and necessary data breach notification, forensics, credit protection services, public relations/crisis management, and other data breach mitigation services resulting from a confidentiality or breach of security by or on behalf of Contractor.

Cyber Insurance. Contractor agrees to purchase and maintain throughout the term of the this Agreement a technology/technology and professional liability insurance policy, including coverage for network security/security and data protection liability insurance (also called “cyber liability”), ) covering liabilities for financial loss resulting or arising from acts, errors, or omissions omissions, in rendering technology/technology or professional services or in connection with the specific services described in violation or infringement of any right of privacy, including: including breach of security and breach of security/security or privacy laws, rules or regulations globally, now or hereinafter constituted or amended; data theft, damage, unauthorized disclosure, destruction, or corruption, including without limitation, unauthorized access, unauthorized use, identity theft, theft of personally identifiable information or confidential corporate government, corporate, or public information in whatever form, ; transmission of a computer virus or other type of malicious code, and ; participation in a denial of service attack on third party computer systems; loss or denial of service; with no cyber terrorism exclusion, ; with a minimum limit of one three million dollars ($1,000,0003,000,000) for each and every claim and in the aggregate. Such coverage must include technology/technology and professional liability including breach of contract, privacy and security liability, privacy regulatory defense and payment of civil fines, payment of credit card provider penalties, and breach response costs (including without limitation, notification costs, forensics, credit protection services, call center services, identity theft protection services, and crisis management/management and public relations services). Such insurance must explicitly address all of the foregoing without limitation if caused by an employee of the Contractor or an independent contractor working on behalf of the Contractor in performing services under the this Agreement. The policy Policy must provide coverage for wrongful acts, claims, and lawsuits anywhere in the world. Such insurance must include affirmative contractual liability coverage for the any data breach indemnity in the Agreement this Agreement, for all damages, defense costs, privacy regulatory civil fines and penalties, and reasonable and necessary data breach notification, forensics, credit protection services, public relations/relations and crisis management, and other data breach mitigation services resulting from a confidentiality or security breach of security by or on behalf of the Contractor. Contractor shall furnish evidence of coverage at the time of any bid or proposal, and upon request at any time during the term of the Agreement.

Cyber Insurance. Contractor agrees to purchase a. RIB shall procure and maintain throughout the term maintain, at its sole expense, from an insurance company having an A.M. Best rating of the Agreement “A-” or better and with a technology/professional liability financial size category of at least Class VII or, if such ratings are no longer available, with comparable ratings from a generally recognized insurance policyrating agency, including insurance coverage for network security/data protection liability insurance (also called “cyber liability”)the unauthorized acquisition, covering liabilities for financial loss resulting or arising from actsaccess, errorsuse, physical taking, release, distribution, or omissions in rendering technology/professional services or in connection with the specific services described in violation or infringement disclosure of any right of privacy, including: breach of security and breach of security/privacy laws, rules or regulations globally, now or hereinafter constituted or amended; data theft, damage, unauthorized disclosure, destruction, or corruption, including without limitation, unauthorized access, unauthorized usepersonal information, identity theft, theft and breaches by third parties and employees, for costs and expenses arising from or relating to an unauthorized disclosure or use of personally identifiable information Customer Data or confidential corporate information any use or disclosure of Customer Data in whatever formbreach of the terms and conditions of this Agreement or in violation of applicable law, transmission including such costs and expenses of notification, fraud alert and credit monitoring, mitigation of damages, consultants, forensic investigation, and legal expenses, such policy to include, at a minimum, (A) third-party coverage for data privacy and computer network security breaches, internet and electronic media liability, and professional services liability, (B) first-party business interruption coverage in the event of a network security breach, (C) first-party cyber extortion coverage for threats against data and identity theft, (E) liability coverage for claims related to computer virus viruses or other type of malicious code, and participation in a denial of service attack on third party computer systems; loss or denial of service; no cyber terrorism exclusion, with a minimum limit of one million dollars ($1,000,000F) each and every claim and in the aggregate. Such coverage must include technology/professional liability including breach of contract, privacy and security liability, privacy regulatory defense and payment of civil fines, payment of credit card provider penalties, and breach response costs (including without limitation, notification costs, forensics, credit protection services, call center services, identity theft protection services, and crisis management/public relations services). Such insurance must explicitly address all of the foregoing without limitation if caused by an employee of Contractor or an independent contractor working on behalf of Contractor in performing services under the Agreement. The policy must provide coverage for wrongful acts, claims, and lawsuits anywhere in the world. Such insurance must include affirmative contractual liability coverage for the claims related to theft or destruction of data, and (G) reimbursement for expenses notification of, and costs associated with credit monitoring for, parties affected by a security breach, costs for investigating and managing a security breach, and data breach indemnity in the Agreement for all damages, defense costs, privacy regulatory civil fines and penalties, with limits of not less than $5,000,000 as an annual aggregate (“Cyber Insurance”). b. Upon its procurement of the foregoing insurance and reasonable and necessary data breach notification, forensics, credit protection services, public relations/crisis managementthereafter upon Customer’s request from time to time, and upon any replacement of or material change to any policy required under this Agreement, RIB shall furnish Customer with certificates or other data breach mitigation services resulting from a confidentiality proof of each such policy reasonably satisfactory to Customer. RIB shall notify Customer within three business days following any cancellation, or breach receipt of security notice of cancellation, of any such policy. c. The requirements as to the types and limits of insurance coverage to be maintained by RIB pursuant to this Agreement, and any approval or on behalf waiver of Contractorsaid insurance by Customer, is not intended to, and shall not, limit or qualify in any manner the liabilities and obligations otherwise assumed by RIB pursuant to this Agreement, including without limitation provisions relating to indemnification. The procurement and maintenance of insurance required under this Agreement shall not limit or affect any liability that RIB may have by virtue of this Agreement or otherwise.

Cyber Insurance. Contractor The Service Provider agrees to purchase and maintain throughout the term of the this Agreement a technology/professional liability insurance policy, including coverage for network security/data protection liability insurance (also called “cyber liability”), ) covering liabilities for financial loss resulting or arising from acts, errors, or omissions omissions, in rendering technology/professional services or in connection with the specific services described in violation or infringement of any right of privacy, including: including breach of security and breach of security/privacy laws, rules or regulations globally, now or hereinafter constituted or amended; data Data theft, damage, unauthorized disclosure, destruction, or corruption, including without limitation, unauthorized access, unauthorized use, identity theft, theft of personally identifiable information or confidential corporate information in whatever form, transmission of a computer virus or other type of malicious code, ; and participation in a denial of service attack on third party computer systems; loss Loss or denial of service; no No cyber terrorism exclusion, with ; With a minimum limit of one million dollars ($1,000,000) 3,000,000 each and every claim and in the aggregate. Such coverage must include technology/professional liability including breach of contract, privacy and security liability, privacy regulatory defense and payment of civil fines, payment of credit card provider penalties, and breach response costs (including without limitation, notification costs, forensics, credit protection services, call center services, identity theft protection services, and crisis management/public relations services). Such insurance must explicitly address all of the foregoing without limitation if caused by an employee of Contractor the Service Provider or an independent contractor working on behalf of Contractor the Service Provider in performing services under the this Agreement. The policy Policy must provide coverage for wrongful acts, claims, and lawsuits anywhere in the world. Such insurance must include affirmative contractual liability coverage for the data breach indemnity in the this Agreement for all damages, defense costs, privacy regulatory civil fines and penalties, and reasonable and necessary data breach notification, forensics, credit protection services, public relations/crisis management, and other data breach mitigation services resulting from a confidentiality or breach of security by or on behalf of Contractorthe Service Provider.