Page 150 - Agriculture Policy Wording Binder

Cyber Insurance (Claims-made Basis)
Harmful Act (continued)
5. trademark infringement through the containment or display of goods, products or services;
6. divulging of trade secrets;
7. Digital Multimedia Activities performed on internal message boards or messaging systems;
8. errors in financial data published or publicised by the Insured;
9. any other intellectual property except to the extent covered by 1, 2 or 3
Insured
1. the Insured Organisation;
2. Subsidiaries of the Insured Organisation; and
3. Insured Person
Insured Organisation
Insured Person
1. any past or present director, officer, trustee, employee (whether temporary or part-time), partner, or principal of the Insured Organisation or a Subsidiary, but only while acting on behalf of or in the interest of the Insured Organisation or a Subsidiary;
2. independent contractors of the Insured Organisation or of a Subsidiary who are natural persons, but only with respect to Wrongful Acts within the scope of such person’s duties performed on behalf of the Insured Organisation or of a Subsidiary; and
3. any entity required by contract to be named an Insured under this Section and consented to in writing by the Company, but only for acts as detailed under the relevant Defined Event.
Loss
1. Claim Expenses resulting directly from a Claim;
2. amounts which the Insured is legally obligated to pay resulting directly from a Claim in respect of:
2.1. judgments or awards rendered against the Insured;
2.2 regulatory fines, penalties or punitive damages imposed by a governmental regulatory body, to the extent payable and insurable under the law governing the Insured’s operations; or
2.3 settlements which have been approved or negotiated by the Company
Loss does not include:
1. profits, restitution, or disgorgement of profits by any Insured;
2. costs to comply with orders granting injunctive or non-monetary relief;
3. return or offset of fees, charges, royalties or commissions for goods or services;
4. non-compensatory (except to the extent covered at (2.2.2)), multiple or liquidated damages;
5. fines or penalties (except to the extent covered at (2.2.2));
6. damages, fines, penalties or awards from industry-wide, non-firm specific regulatory inquiry or action;
7. any amount which the Insured is not legally liable to pay;
8. loss of any remuneration or financial advantage to which the Insured was not legally entitled;
9. matters deemed uninsurable under the jurisdiction in which a Claim is brought; and
10. matters relating to laws not pursuant to which this Section may be construed.
those organisations designated in the Schedule
Page | 148 Policy Wording – Agriculture – Binder – Version 2 2023