Common use of Separate Limits Clause in Contracts

Separate Limits. The Insurer is liable only for that portion of damages, claim expenses, regulatory damages, extra expenses, data recovery expenses and cyber-extortion expenses that is in excess of the applicable Insuring Agreement’s retention amount, as stated in Item 3. on the Declarations page. If more than a single retention applies to a claim and/or first party incident, then the Insured is responsible for paying the highest applicable retention. The retention will be borne entirely by the Insured alone and not by the Insurer. With respect to insuring agreement I.C. Data Breach Response and Crisis Management Coverage a separate retention will apply and the Insurer is liable only for that portion of any data breach response and crisis management costs directly resulting from a data breach or cyber security breach. (a) Business Interruption and Extra Expenses, the Insurer is liable only for loss of business income in excess of the waiting period.