Orange County NC Website
DocuSign Envelope ID:24BBAFA9-CD81-4144-ACEF-E9036E703739 <br /> Continuity Date means: <br /> 1. the Continuity Date listed in the Declarations; and <br /> 2. with respect to any Subsidiaries acquired after the Continuity Date listed in the <br /> Declarations, the date the Named Insured acquired such Subsidiary. <br /> Control Group means any principal, partner, corporate officer, director, general counsel (or most <br /> senior legal counsel) or risk manager of the Insured Organization and any individual in a <br /> substantially similar position. <br /> Criminal Reward Funds means any amount offered and paid by the Insured Organization with <br /> the Underwriters' prior written consent for information that leads to the arrest and conviction of <br /> any individual(s) committing or trying to commit any illegal act related to any coverage under this <br /> Policy; but will not include any amount based upon information provided by the Insured, the <br /> Insured's auditors or any individual hired or retained to investigate the illegal acts. All Criminal <br /> Reward Funds offered pursuant to this Policy must expire no later than 6 months following the <br /> end of the Policy Period. <br /> Cyber Extortion Loss means: <br /> 1. any Extortion Payment that has been made by or on behalf of the Insured <br /> Organization with the Underwriters' prior written consent to prevent or terminate <br /> an Extortion Threat; and <br /> 2. reasonable and necessary expenses incurred by the Insured Organization with <br /> the Underwriters' prior written consent to prevent or respond to an Extortion <br /> Threat. <br /> Damages means a monetary judgment, award or settlement, including any award of prejudgment <br /> or post-judgment interest. With the prior written consent of the Underwriters, Damages also <br /> include the direct net cost of providing any future service credits offered by the Insured <br /> Organization in lieu of a monetary payment. <br /> Damages will not include: <br /> 1. future profits, restitution, disgorgement of unjust enrichment or profits by an <br /> Insured, or the costs of complying with orders granting injunctive or equitable <br /> relief; <br /> 2. return or offset of fees, charges or commissions charged by or owed to an <br /> Insured for goods or services already provided or contracted to be provided; <br /> 3. taxes or loss of tax benefits; <br /> 4. fines, sanctions or penalties against any Insured; <br /> 5. punitive or exemplary damages or any damages which are a multiple of <br /> compensatory damages, unless insurable by law in any applicable venue that <br /> most favors coverage for such punitive, exemplary or multiple damages; <br /> 6. discounts, coupons, prizes, awards or other incentives offered to the Insured's <br /> customers or clients; <br /> F00731 <br /> 022019 ed. Page 5 of 24 <br />