Common use of Cyber Liability Insurance Clause in Contracts

Cyber Liability Insurance. Cyber Liability Insurance, with limits not less than two million dollars ($2,000,000) per occurrence or claim, two million dollars ($2,000,000) aggregate. Coverage shall be sufficiently broad to respond to the duties and obligations as are undertaken by Contractor in this Agreement and shall include, but not be limited to, claims involving security breach, system failure, data recovery, business interruption, cyber extortion, social engineering, infringement of intellectual property, including but not limited to infringement of copyright, trademark, trade dress, invasion of privacy violations, information theft, damage to or destruction of electronic information, release of private information, and alteration of electronic information. The policy shall provide coverage for breach response costs, regulatory fines and penalties as well as credit monitoring expenses.

Cyber Liability Insurance. Cyber (Technology Professional Liability Insurance- Errors and Omissions), with limits of not less than two million dollars ($2,000,000) 2,000,000 per occurrence or claim, two million dollars (and $2,000,000) aggregate2,000,000 aggregate or the full per occurrence limits of the policies available, whichever is greater. Coverage shall be sufficiently broad to respond to the duties and obligations as are is undertaken by Contractor Consultant in this Agreement and shall include, but not be limited to, claims involving security breach, system failure, data recovery, business interruption, cyber extortion, social engineering, infringement of intellectual property, including but not limited to infringement of copyright, trademark, trade dress, invasion of privacy violations, information theft, damage to or destruction of electronic information, release of private information, and alteration of electronic information, extortion and network security. The policy shall provide coverage for breach response costs, costs as well as regulatory fines and penalties as well as credit monitoring expensesexpenses with limits sufficient to respond to these obligations.