Cyber Extortion definition

Cyber Extortion means a form of cybercrime which occurs when a person uses the internet to demand money or other goods or behaviour from another person by threatening to inflict harm to his person, reputation, or property;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Cyber Extortion means a threat made solely and directly against an Insured Organisation by a person or group to:

Cyber Extortion means any threat or connected series of threats communicated to the insured for the purpose of demanding money, securities, or property, including but not limited to threats to release, divulge, disseminate, corrupt, damage or destroy “electronic data” or “electronic media”; introduce malware or “malicious code” into the insured’s “computer system”; electronically communicate with the insured’s customers in order to fraudulently obtain personal information, money, securities or property; or restrict or hinder access to the insured’s “computer system,” “electronic data” or “electronic media,” including but not limited to ransomware.

Examples of Cyber Extortion in a sentence

• The Named Insured must obtain the Underwriters’ consent prior to incurring Cyber Extortion Loss.

• Cyber Extortion Loss that the Insured Organisation incurs as a result of an Extortion Threat first made against the Insured Organisation during the Policy Period.

• With respect to Cyber Extortion Loss, the Named Insured must notify the Underwriters via the email address listed in the Notice of Claim, Loss or Circumstance in the Declarations as soon as practicable after discovery of an Extortion Threat but no later than 60 days after the end of the Policy Period.

• Coverage to include coverage for Privacy & Security Liability, Security Breach Response / Customer Breach Notice Expense, Cyber Extortion and Electronic Media Liability.

• Claims arising from first- and third-person Cyber Extortion or any credible threat or series of related threats to attack insured hosts or networks in a specific way.

• The Insurer will reimburse, or pay on behalf of, the Insured for Cyber Extortion Costs, resulting from a Cyber Extortion Threat that is Discovered during the Policy Period.

• Cyber Extortion: ▇▇▇▇▇▇ or investigative expenses associated with a threat directed at you to release, divulge, disseminate, destroy, steal, or use the confidential information taken from the insured, introduce malicious code into your computer system; corrupt, damage, or destroy your computer system, or restrict or hinder access to your computer system.

• To indemnify the Named Insured for Cyber Extortion Loss, in excess of the Retention, incurred by the Insured Organization as a direct result of an Extortion Threat first made against the Insured Organization during the Policy Period.

• Cyber Extortion Loss that the Insured Organization incurs as a result of an Extortion Threat first made against the Insured Organization during the Policy Period.

• We will indemnify You against a loss suffered as a result of Cyber Extortion.

More Definitions of Cyber Extortion

Cyber Extortion means any direct or indirect attempt to coerce BW or its representatives through online or electronic

Cyber Extortion means any direct or indirect attempt to coerce the Company or its representatives through online or electronic means into any form of exchange to prevent a threatened action by the coercing party;

Cyber Extortion means a threat, communicated to an Insured or Insured Person by an individual other than an identifiable Employee, expressing an intention to: 1. cause the Insured to transfer, pay, or deliver funds or property using a Computer System without the permission, authorization, and consent of the Insured; 2. sell or disclose information about a customer of the Insured that is unique to the relationship of the customer and the Insured and is not otherwise publicly available, provided that such information is stored in an electronic medium in a Computer System and is retrievable in a perceivable form; 3. alter, damage, or destroy any computer program, software, or other electronic data that is stored within a 4. maliciously or fraudulently introduce a Computer Virus into a Computer System when such threat is premised upon actual or alleged unauthorized access to the Computer System; 5. maliciously or fraudulently introduce malware into a Computer System; or 6. initiate an intentional attack on a Computer System that depletes system resources or impedes system access available through the Internet to authorized external users of the Computer System, where such threat is made for the purpose of demanding ▇▇▇▇▇▇ from the assets of an Insured or Insured Person as a condition of not carrying out such threats.