Extortion Demand definition

Extortion Demand means a threat or series of threats made against the insured involving the “contamination” or other impairment to the insured’s food or beverage product(s), requiring payments of money or the monetary value of property or other consideration as a condition to remove such threat(s) or to identify such contaminated food or beverage product(s).
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Extortion Demand means an incident or series of related incidents occurring during the Policy Period where an Insured Entity receives a threat to launch an attack on, to suspend, or to otherwise disrupt a Network, disrupt or deface the Insured Entity’s website or release or use Protected Information in the Insured Entity’s care, unless monies are paid or specified action is taken, and an Executive Officer believes there is an imminent and probable danger of such action. An Extortion Demand does not include any demand seeking monies from the Insured Entity that are allegedly due and owing pursuant to contract or operation of law. Extortion Payment means all reasonable and necessary expenses incurred by the Insured Entity with the Insurer’s prior consent, in order to respond to an Extortion Demand, including payment of monies demanded by an extortionist. Extortion Payments do not include such expenses to the extent the Insured Entity has recovered such expenses or been reimbursed for them from any other source. Extra Expense means any reasonable and necessary expenses, in excess of the Insured Entity’s normal operating expenses, that the Insured Entity incurs during the Period of Restoration associated with restoring and resuming Commerce Operations, including: A. reasonable expense incurred to minimize the interruption of Commerce Operations not covered elsewhere in this Policy; and,
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Examples of Extortion Demand in a sentence

  • This exclusion does not apply to Malicious Product Tampering or Product Extortion Demand.

  • However, this exclusion does not apply to Malicious Product Tampering or Product Extortion Demand.

  • The Named Insured agrees to use all reasonable efforts not to disclose the existence of the Product Extortion Demand coverage afforded under this Policy.

  • All demands related to the same malware or ransomware will constitute a single Electronic Extortion Demand.

  • Money means cash, monetary instruments, electronic currency, or the fair market value of any securities, tangible personal property or services paid or provided by the Named Insured as a direct result of a Product Extortion Demand.

  • However, this exclusion does not apply Malicious Product Tampering, or Product Extortion Demand.

  • The Insured must advise the Insurer as soon as practicable after discovery that any insured product must be withdrawn or that an "Extortion Demand" has been made.

  • We will reimburse you for ▇▇▇▇▇▇ Monies you have paid due to an Electronic Extortion Demand that is first made during the policy period.

  • The most we will pay for all Electronic Extortion Demands made in any one Policy Year is the Electronic Extortion Demand Annual Aggregate Limit of Insurance shown in Declarations.