Extortion Expense definition
Extortion Expense means the Insured’s rea- sonable expenses to retain a negotiator ap- proved by the Company, where such expenses are in excess of the normal operating costs of the Insured's business and are directly in re- sponse to a covered Extortion Threat. Extor- tion Expense does not include salary charges or expenses of regular employees of the In- sured.
Examples of Extortion Expense in a sentence
Extortion Expense and Extortion Monies will not be paid without a recommendation by law enforcement, prior consultation with the Insurer and express written consent of the Insurer.
The Insurer will reimburse the Insured for Extortion Expense and Extortion Monies resulting directly from any Credible Threat or series of Credible Threats that includes a demand for Extortion Monies that first occurs during the Policy Period and is reported to the Insurer during the Policy Period or any applicable Extended Reporting Period.
This policy shall also include coverage for Cyber Incident Response Expense, Data Restoration Expense, Cyber Extortion Expense and Regulatory Defense & Regulatory Fines and Penalties Coverage.