Cyber Insurance. The Contractor shall maintain network risk and cyber liability coverage (including coverage for unauthorized access, failure of security, breach of privacy perils, as well at notification costs and regulatory defense) in an amount of not less than $1,000,000. Such insurance shall be maintained in force at all times during the term of the Contract and for a period of two years thereafter for services completed during the term of the Contract.
Cyber Insurance. In addition to insurance required under the Agreement, Supplier shall at its sole cost and expense procure and maintain through the term of the Agreement and for two (2) years following the termination or expiration of the Agreement cyber/network privacy insurance with limits of $5,000,000 per claim/in aggregate. Such policy shall provide coverage for disclosures and/or breaches of University Data arising out of or relating to Supplier’s Services. Such policy shall also include coverage for the costs associated with restoring lost or damaged University Data, sending breach notifications to affected individuals, public relations expenses, fines and penalties. Such policy shall not contain exclusions for the acts or omissions of either Supplier or University or their respective employees, agents, subcontractors or volunteers, whether intentional or unintentional, resulting in or relating to any Use of University Data not expressly permitted by the Agreement and this Addendum or any breach of University Data. Supplier must notify University at least thirty (30) days prior to the cancellation or modification of such policy.
Cyber Insurance. What types of cyber insurance does the vendor have in place? New insurance products have emerged that are designed specifically to address first and third party claims related to data, including the costs of responding to a breach. If the vendor under consideration carries such insurance, the vendor will be in a better position to respond in the event of a breach. Does the vendor’s policy provide coverage for breach remediation and notification expenses? Management of breach response by counsel? Forensic investigation and credit monitoring services? Does the policy provide coverage for regulatory fines and penalties? Reimbursement for crisis management and public relations services? Does the policy contain exclusions baring coverage for mechanical failure, failure to maintain the computer network or system, failure to maintain risk controls or lack of encryption? Focusing on these questions before negotiating the vendor agreement can help the parties better understand the options that may be available with respect to liability and indemnification. Audit reports and certifications What audit reports are available with respect to the vendor’s data security practices? Below are some examples of audit reports that are increasingly available to a vendor’s potential customers: Service Organization Control Reports (SOC reports), Type I and Type II reports A Service Organization Controls Report 2 (SOC 2) is intended to demonstrate that the organization’s internal controls related to security, availability, processing, integrity, confidentiality and data privacy are operating effectively. A SOC 2 Type I report focuses on management’s description of a service organizations’ system, and the suitability of the design of the controls. The SOC 2 Type II report focuses on management’s description of a service organization’s system and the suitability of the design and operating effectiveness of the controls. The report includes an examination and confirmation of the steps involved, and an evaluation of the operating effectiveness of the controls for a stated period of time. The distinctions between a Type I report and a Type II report are subtle, but important. When evaluating a Type I report, the focus is on whether management has adequately described the system and adopted suitable controls for security, availability, processing, integrity, confidentiality and data privacy. The Type II report, in contrast, evaluates whether that system operates effectively. What type o...
Cyber Insurance. If the Vendor will be communicating with the District electronically and/or collecting any sensitive staff or student data, the Vendor must have coverage applicable to first- and third-party claims including but not limited to data compromise expenses and liability, forensic review costs, legal review costs, data restoration and re-creation costs, public relations costs, extortion costs, network security liability, identity recovery costs, regulatory fines and penalties, and credit monitoring costs. Coverage limits shall be no less than: Each Occurrence/Claim $1,000,000 Aggregate $1,000,000 EDUCATIONAL AGENCY CONTRACTOR
Cyber Insurance. Client shall secure and maintain for the duration of the contract Cyber Liability Insurance to insure Client cyber exposures. Specific limits and coverages should be evaluated by a qualified insurance broker or risk manager to determine Client specific coverage and policy limit requirements. A minimal $1,000,000 Policy per occurrence/aggregate limit is required.
Cyber Insurance. Each Party receiving Confidential Information shall secure, provide and maintain during the term of this Agreement, an insurance policy that provides coverage for any and all liabilities, damages, claims, losses, costs and expenses, of any kind, that may be incurred by or asserted against the Central Xxxxxx resulting from or related to:
Cyber Insurance. The Company shall have procured cyber (including HIPAA) liability insurance runoff coverage with a limit of liability of at least USD $1 million and at least 3 years’ prior acts coverage and shall have delivered a certificate of insurance evidencing such coverage to the Purchaser.
Cyber Insurance. Customers of TOTLCOM have access to reduced rate cyber insurance from a cyber insurance company. Please contact us if interested and we will put you in touch. We will confirm that we are providing cyber security services for you (required for the discounted rate). Then, if your system is attacked and private information is compromised, you will have insurance.
Cyber Insurance. Cyber Insurance is required for all software, computer hardware installation, data access, data integrations, data usage, cloud storage, and technology related contracts. If your contract has any of these components, you are required to have this coverage.
Cyber Insurance covering (a) liability arising from theft, dissemination and/or use of Confidential Information stored or transmitted in electronic form and (b) liability arising from the introduction of a computer virus into, or otherwise causing damage to, a customer’s or third-person’s computer, computer system, network or similar computer related property and the data, software and programs stored thereon. Such insurance will be maintained with limits of no less than $2,000,000 per claim and in the annual aggregate, and may be maintained on a stand-alone basis, or as part of errors and omissions coverage. This insurance shall have a retroactive date that equals or precedes the Effective Date of this Agreement. Seller shall maintain such coverage until the later of: (1) a minimum period of three years following termination of this Agreement, or (2) the date when Seller has returned or destroyed all Edison Data in its possession, custody or control, including any copies maintained for archival or record-keeping processes. Notwithstanding the foregoing, this Section 14.07(g) shall not be applicable to Permanent Load Shift Thermal Projects or Projects consisting solely of Energy Efficiency measures. All policies required by Sections 14.07(a) through (g) shall be written on a “per project” or “per contract” basis.
