Orange County NC Website
Browse       Search
27 <br /> Other Conditions continued from previous page. <br /> c. notify law enforcement,if such First Party Event violates law. <br /> 3. Demands for payment of First Party Loss must be provided to the Insurer by <br /> the Insured Entity. <br /> 4. All notices and demands must be sent to the Insurer at an address shown in the <br /> Declarations. <br /> Other Insurance. 1. The Breach Response and Business Loss Insuring Agreements are primary <br /> insurance. <br /> 2. The Liability and Cyber Crime Insuring Agreements are excess over,and will not <br /> contribute with, any other valid and collectible insurance available to the <br /> Insured. This applies even if such other insurance is stated to be primary, <br /> excess, or otherwise, unless such other insurance states by specific reference <br /> that it is excess over this Coverage. <br /> Property Covered. Coverage under the Cyber Crime Insuring Agreements is limited to property: <br /> 1. the Insured Entity. <br /> a. owns; <br /> b. leases;or <br /> c. holds for others;or <br /> 2. for which the Insured Entity is legally liable, except property located <br /> inside premises of the Insured Entity's client or such client's financial <br /> institution. <br /> Recovery And 1. The Insurer has no duty to recover amounts paid under this Coverage. <br /> Subrogation. 2. Amounts recovered from a third party, less costs incurred in obtaining such <br /> recovery,will be applied in this order: <br /> a. to the Insurer for any Retention it paid on behalf of an Insured; <br /> b. to the Insured for Loss the Insurer did not pay because the applicable <br /> Limit was exhausted; <br /> c. to the Insurer for Loss it paid; <br /> d. to the Insured for any Retention it paid;and then <br /> e. to the Insured for any uncovered loss it paid. <br /> 3. Recoveries do not include amounts from insurance or reinsurance. <br /> 4. The Insurer is subrogated to, and the Insured must transfer to the Insurer, all <br /> of the Insured's rights of recovery against any person or organization for Loss <br /> the Insurer has paid under this Coverage.The Insured agrees to: <br /> a. execute and deliver instruments and papers; <br /> b. do everything necessary to secure such rights;and <br /> c. do nothing to impair or prejudice those rights. <br /> 5. Subrogation will not apply if the Insured, prior to the date of a Wrongful Act <br /> or a First Party Event,waived its rights to recovery. <br /> 6. Any of the Insured Entity's property that the Insurer pays for becomes the <br /> Insurer's property. <br /> Related Claims. Multiple Claims arising out of the same Wrongful Act are a single Claim that is <br /> deemed first made on the date the earliest of such Claims is made,whether before <br /> or during the Policy Period. <br /> Representations. 1. The Insurer has issued this coverage in reliance on the accuracy and <br /> completeness of the representations that the Insured made to the Insurer. <br /> 2. If any such representation is untrue,and: <br /> a. was material to the acceptance of the risk;and <br /> b. is material to a covered Loss, <br /> then this coverage will not apply to such Loss with respect to: <br /> i. an Insured Person who knew;or <br /> ii. an Insured Entity, if an Executive Officer knew, <br /> that such representation was untrue on the Inception date shown in <br /> the Declarations. <br /> CYB-16002 Ed.06-20 Page 21 of 22 <br /> 9 2020 The Travelers Indemnity Company.All rights reserved. <br />