Common use of Cyber Risk Insurance Clause in Contracts

Cyber Risk Insurance. Vendor shall have and maintain insurance in the minimum amount of $1,000,000 per claim to be maintained for the duration of this Agreement and three years following its termination to respond to privacy and network security liability claims including, but not limited to: 1. Liability arising from theft, dissemination, and/or use of Cornell University Confidential Information, including, but not limited to, bank, credit card account and personally identifiable information, such as name, address, social security numbers, etc. regardless of how stored or transmitted; 2. Network security liability arising from (i) the unauthorized access to, use of, or tampering with computer systems, including hacker attacks or (ii) the inability of an authorized third party to gain access to Supplier systems and/or Cornell University data, including denial of service, unless caused by a mechanical or electrical failure; 3. 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 thereon; 4. Crisis Management expenses (i.e. notification, public relations, reputation damage, forensics, etc.) for a data breach.

Cyber Risk Insurance. Vendor Consultant shall have and maintain insurance in the minimum amount of $1,000,000 per claim to be maintained for the duration of this Agreement and three years following its termination to respond to privacy and network security liability claims including, but not limited to: 1. Liability arising from theft, dissemination, and/or use of Cornell University Confidential Information, including, but not limited to, bank, credit card account and personally identifiable information, such as name, address, social security numbers, etc. regardless of how stored or transmitted; 2. Network security liability arising from (i) the unauthorized access to, use of, or tampering with computer systems, including hacker attacks or (ii) the inability of an authorized third party to gain access to Supplier Consultant systems and/or Cornell University data, including denial of service, unless caused by a mechanical or electrical failure; 3. 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 thereon; 4. Crisis Management expenses (i.e. notification, public relations, reputation damage, forensics, etc.) for a data breach.