Common use of Technology Professional Liability Errors and Omissions Clause in Contracts

Technology Professional Liability Errors and Omissions. Insurance appropriate to the Contractors profession and work hereunder, with limits not less than $5,000,000 per occurrence. Coverage shall be sufficiently broad to respond to the duties and obligations as is undertaken by the Contractor in this agreement and shall include, but not be limited to, claims involving infringement of intellectual property, copyright, trademark, invasion of privacy violations, information theft, release of private information, extortion and network security. The policy shall provide coverage for breach response costs as well as regulatory fines and penalties as well as credit monitoring expenses with limits sufficient to respond to these obligations. 1. The Policy shall include, or be endorsed to include, property damage liability coverage for damage to, alteration of, loss of, or destruction of electronic data and/or information “property” of the State in the care, custody, or control of the Contractor. If not covered under the Contractors liability policy, such “property” coverage of the may be endorsed onto the Contractors Cyber Liability Policy as covered property as follows: 2. If Policy is written on a claims-made basis provide the following: a) The Retroactive Date must be shown, and must be before the date of the Contract or the beginning of contract work; b) Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of the contract of work; c) If coverage is canceled or non-renewed, and not replaced with another claims-made policy form with a Retroactive Date prior to the Contract effective date, the Contractor must purchase “extended reporting” coverage for a minimum of five (5) years after completion of work.

Technology Professional Liability Errors and Omissions. Insurance appropriate to the Contractors profession and work hereunder, with limits not less than $5,000,000 1,000,000 per occurrence. Coverage shall be sufficiently broad to respond to the duties and obligations as is undertaken by the Contractor in this agreement and shall include, but not be limited to, claims involving infringement of intellectual property, copyright, trademark, invasion of privacy violations, information theft, release of private information, extortion and network security. The policy shall provide coverage for breach response costs as well as regulatory fines and penalties as well as credit monitoring expenses with limits sufficient to respond to these obligations. 1. The Policy shall include, or be endorsed to include, property damage liability coverage for damage to, alteration of, loss of, or destruction of electronic data and/or information “property” of the State in the care, custody, or control of the Contractor. If not covered under the Contractors liability policy, such “property” coverage of the may be endorsed onto the Contractors Cyber Liability Policy as covered property as follows:: the State that will be in the care, custody, or control of Vendor. 2. If Policy is written on a claims-made basis provide the following: a) The Retroactive Date must be shown, and must be before the date of the Contract or the beginning of contract work; b) Insurance must be maintained and evidence of insurance must be provided for at least five (5) years after completion of the contract of work; c) If coverage is canceled or non-renewed, and not replaced with another claims-made policy form with a Retroactive Date prior to the Contract effective date, the Contractor must purchase “extended reporting” coverage for a minimum of five (5) years after completion of work.

Technology Professional Liability Errors and Omissions. Insurance appropriate to the Contractors profession and work hereunder, with limits not less than $5,000,000 per occurrenceclaim. Coverage shall be sufficiently broad to respond to the duties and obligations as is undertaken by the Contractor in this agreement and shall include, but not be limited to, claims involving infringement of intellectual property, copyright, trademark, invasion of privacy violations, information theft, release of private information, extortion and network security. The policy shall provide coverage for breach response costs as well as regulatory fines and penalties as well as credit monitoring expenses with limits sufficient to respond to these obligations, but only to the extent required by privacy breach laws. 1. The Policy shall include, or be endorsed to include, property damage liability coverage for damage to, alteration of, loss of, or destruction of electronic data and/or information “property” of the State in the care, custody, or control of the Contractor. If not covered under the Contractors liability policy, such “property” coverage of the may be endorsed onto the Contractors Cyber Liability Policy as covered property as follows: 2. If Policy is written on a claims-made basis provide the following: a) The Retroactive Date must be shown, and must be before the date of the Contract or the beginning of contract work; b) Insurance must be maintained and evidence of insurance must be provided for at least five three (53) years after completion of the contract of work; c) If coverage is canceled or non-renewed, and not replaced with another claims-made policy form with a Retroactive Date prior to the Contract effective date, the Contractor must purchase “extended reporting” coverage for a minimum of five (5) years after completion of work.