Qualifying Breach of Data Security definition
Examples of Qualifying Breach of Data Security in a sentence
The Insurer will pay to or on behalf of any Company all Professional Fees of forensic cyber risk specialists for the purpose of substantiating whether a Qualifying Breach of Data Security has occurred/is occurring, identifying the cause, establishing the extent of the breach, identify Personal information and Corporate Information that may have been compromised and for making recommendations as to how this may be prevented, mitigated or resolved.
The Insurer will pay to or on behalf of any director, chief compliance officer, Data Protection Officer or General Counsel of a Company all Professional Fees for advice and support from an independent public relations consultant, in order to mitigate or prevent damage to their individual (personal and professional) reputation due to an actual or alleged Qualifying Breach of Data Security or breach of Data Protection Law.
Extortion Threat Means any threat or connected series of threats, for the purpose of demanding monies, communicated to the Insured to prevent or end a Security Threat Security Threat Means any threat to the Computer System that may result in an actual or alleged Qualifying Breach of Data Security causing financial harm to the Company.
If, during the Policy Period, any Insured becomes aware of any fact, circumstance, Qualifying Breach of Data Security, breach of Data Protection Legislation, Newsworthy Event, Extortion Threat or Material Interruption that an informed person operating within the same type of business as the Company would reasonably believe is likely to give rise at a later date to a Claim, the Insured shall promptly inform the Insurer about those circumstances.
For any Subsidiary or any Insured thereof, cover under this policy shall only apply to a breach of Data Protection Legislation or an act, error, or omission resulting in a Qualifying Breach of Data Security committed while such entity is a Subsidiary of the Policyholder.
C.4 Notification to Data SubjectsThe Insurer will pay to or behalf of the Insured all Professional Fees (not to exceed the Sublimit stated in item 5 of the Schedule) in relation to the investigation, collation of information, preparation for and notification to Data Subjects and/or any relevant Regulator of any alleged or actual Qualifying Breach of Data Security or breach of Data Protection Legislation, if the Insured is legally obligated to notify the Data Subjects.
If, during the Policy Period, any Insured becomes aware of any fact, circumstance, Qualifying Breach of Data Security or breach of Data Protection Legislation that an informed person operating within the same type of business as the Company would reasonably believe is likely to give rise at a later date to a Claim, the Insured shall promptly inform the Insurer about those circumstances.
If no Claim, Qualifying Breach of Data Security, breach of Data Protection Legislation, Material Interruption or Extortion Threat has been made and no circumstance has been notified prior to such cancellation, Insurer shall retain the customary short rate proportion (unexpired portion of Premium less handling charges) of the Premium.
In the event of the Insurer being entitled to avoid this policy from the inception date or from the time of any variation in cover, the Insurer may at its discretion maintain this policy in full force, but exclude the consequences of any Claim, circumstance, Qualifying Breach of Data Security, breach of Data Protection Law, Newsworthy Event, Extortion Threat or Material Interruption relating to any matter which ought to have been disclosed before the inception date or before any variation in cover.
With the Company earning in on the Option and having earned a 75% interest in the Property, a joint venture was formed on an 81.3% (the Company) and 18.7% (Endurance Gold Corp.) basis.