Examples of Extortion Demand in a sentence
This exclusion does not apply to Malicious Product Tampering or Product Extortion Demand.
The Retentions, shown in the Schedule of this endorsement, apply to Cyber Management Expenses, Damages, Credit Monitoring Costs, Claim Expenses, Extortion Payments, Business Income and Extra Expenses or First Party Loss incurred in each Network Security Breach, Privacy Violation, Interrelated Breaches/Violations, Extortion Demand, Exploit or Network Impairment.
In the event the Insured is prevented from reporting a Claim or Event because of a statute, law, regulation, court order or written instruction or request from a law enforcement, regulatory or other government agency prohibiting the Insured from disclosing information pertaining to a Security Event, Extortion Demand or Crime Event, notice of such Claim or Event will be considered timely if made as soon as practicable after termination of such prohibition.
Each Extortion Demand that forms part of a related series of Extortion Demands will be treated as being first made when the first of such related Extortion Demands is made.
ConfidentialityThe Named Insured agrees to use all reasonable efforts not to disclose the existence of the Extortion Demand coverage afforded under this Policy.
Liberty will pay to the Insured any Extortion Monies paid by the Insured, with Liberty’s prior written consent, as a direct result of an Extortion Demand that is first made during the Policy Period.
The Named Insured shall act on behalf of all Insured s with respect to all matters as respects this policy including: (1) giving of notice of Claim, Security Failure or Extortion Demand; (2) giving and receiving of all correspondence and information; (3) giving and receiving notice of cancellation; (4) payment of premiums; (5) receiving of any return premiums; (6) receiving and accepting of any endorsements issued to form a part of this policy; and (7) the exercising of any right to a Discovery Period.
Furthermore, unless notice of such Claim, Security Failure, Privacy Incident or Extortion Demand is reported in accordance with this Clause, there shall be no coverage for Incident Response Expenses in connection with such incident.
Extortion Monies means any money or property paid by the Insured to a person reasonably believed to be responsible for the Extortion Demand for the purpose of terminating that threat, plus any reasonable expenses incurred with Liberty’s prior written consent in order to meet, eliminate or mitigate any such Extortion Demand.
Provide all information and assistance reasonably requested by the Insurer, and cooperate with the Insurer and the Insurer’s representatives in the investigation of any Potential Claim, Security Failure or Extortion Demand, and/or settlement of any Claim.