Page 87 - Sectional Title Policy Wording

Cyber Insurance (Claims-made Basis)
21.3 research or develop any Data, including but not limited to trade secrets or other proprietary information; or
21.4 establish, implement, maintain, improve or remediate security or privacy practices, procedures or policies.
22. Consequential/downstream damages
any consequential or Downstream Attack losses or damages to any company who is not You to the extent that such Scheme Executive working for such company could be exposed to a Privacy Breach or Network Security Breach.
23. Non-body corporate data
any loss or damages for Data that is on Your Computer System that is not directly related to Your body corporate activities.
DEFINITIONS
Body Corporate
the Body Corporate as defined in the Sectional Titles Schemes Management Act (No. 8 of 2011) as amended or substituted from time to time and named in the Schedule.
1. a written demand for damages or injunctive relief against You;
2. a civil, criminal or penal judicial, administrative, investigative or regulatory proceeding, or arbitration commenced against You by the service of a statement of claim or similar pleading, the receipt or filing of a notice of charges, hearing or proceeding, the return of an indictment or laying of information request, or a notice of intent to arbitrate or similar document;
3. a proceeding commenced by Your receipt of a complaint made to or by the Information Regulator or a similar governmental regulatory body;
4. for Defined Event 2, notification by You to Hollard of an actual or potential Privacy Breach or Network Security Breach;
5. for Defined Event 3, Claim shall only mean a Network Security Breach; or
6. for Defined Event 4, Claim shall only mean a Cyber Extortion Threat
reasonable and necessary costs, charges, fees and expenses (other than regular or overtime wages, salaries, fees or overheads of the Insured or any Subsidiary) incurred
by Hollard or You with the prior written consent of Hollard, in defending Claims or investigating circumstances which may, in the Insured’s reasoned opinion, lead to a Claim
Claim
Claim Expenses
Crisis Management Expenses
reasonable and necessary expenses approved by Hollard within 1 (one) year of You notifying Hollard of the Wrongful Act, for a public relations consultant and related advertising or communication expenses at the direction of said consultant
Cyber Extortion Loss
1. cyber Extortion Payment;
2. reasonable and necessary forensic fees and expenses to determine and neutralise any Malicious Code or other compromise of the Insured’s Computer System.
3. reasonable and necessary fees and expenses of the cyber extortion negotiator to investigate, determine and to end a Cyber Extortion Threat.
PROVIDED THAT:
1. the Cyber Extortion Loss shall not exceed the covered Expenses that You would have incurred had the Cyber Extortion Payment not been paid.
2. Cyber Extortion Loss does not include any matters deemed uninsurable under the law governing the jurisdiction where the Insured has operations.
Cyber Extortion Payment
funds or property paid with Hollard’s prior consent to terminate a Cyber Extortion Threat
a credible threat (accompanied by a demand for funds or property), directed at You to intentionally introduce Malicious Code to, carry out a Denial of Service Attack against, or commit a Theft of Data from the Insured’s Computer System
the Insured’s machine readable information the first amount payable by You
Cyber Extortion Threat
Data
Deductible
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