Technology Errors & Omissions Clause Samples
The Technology Errors & Omissions clause serves to allocate responsibility and liability for mistakes, failures, or oversights related to the provision of technology products or services. It typically outlines the circumstances under which a party is protected or held liable for losses arising from software bugs, system failures, or inadequate performance of technology solutions. This clause is essential for managing risk between parties, ensuring that both sides understand who bears the consequences of technological errors and helping to prevent disputes over accountability.
Technology Errors & Omissions. Contractor shall maintain Technology Errors & Omissions Liability coverage with limits of at least $1,000,000 per occurrence and $1,000,000 policy aggregate. The policy shall include, but not be limited to Network Security, Privacy Liability and Product Failure.
Technology Errors & Omissions. The Contractor shall have, maintain, and provide proof of Technology Errors and Omissions Liability Insurance.
Technology Errors & Omissions. Minimum limits and coverage
A. The retroactive date must be shown and must be before the date of the contract or the beginning of the Contract services.
B. Insurance must be maintained, and evidence of insurance must be provided for at least three (3) years after expiration or earlier termination of Contract services.
C. If coverage is canceled or non-renewed, and not replaced with another claims-made policy form with a retroactive date prior to the effective date of the contract services, Contractor must purchase an extended reporting period for a minimum of three (3) years after expiration of earlier termination of the Contract.
Technology Errors & Omissions. Vendor shall maintain Technology Errors and Omissions insurance including cyber liability, network security, privacy liability and product failure coverage with limits of two million dollars ($2,000,000) per occurrence and two million dollars ($2,000,000) policy aggregate.
Technology Errors & Omissions. Minimum Limits of Liability (In Thousands)
1. Liability arising from theft, dissemination and / or use of confidential information (a defined term including but not limited to bank account, credit card account, personal information such as name, address, social security numbers, etc. information) stored or transmitted in electronic form.
2. Liability arising from the introduction of a computer virus into, or otherwise causing damage to, a customer’s or third person’s computer, computer system, network or similar computer related property and the data, software, and programs thereon.
3. Policies written on a claims made basis must remain in full force and effect in accordance with CRS ▇▇-▇▇-▇▇▇. The Insured warrants that any retroactive date under the policy shall precede the effective date of this Contract; and that either continuous coverage will be maintained or an extended discovery period will be exercised for a period of three (3) years beginning at the time work under the Contract is completed.
4. Coverage for advertising injury, personal injury (including invasion of privacy) and intellectual property offenses related to internet.
1. The City and County of Denver, Department of Aviation shall be named as loss payee as its interest may appear.
Technology Errors & Omissions. The Consultant shall maintain Technology Errors and Omissions insurance including cyber liability, network security, privacy liability and product failure coverage with limits of $1,000,000 per occurrence and $1,000,000 policy aggregate. Policy shall include a severability of interest or separation of insured provision (no insured vs. insured exclusion) and a provision that coverage is primary and non-contributory with any other coverage or self-insurance maintained by Denver Water.
Technology Errors & Omissions. Partner shall maintain Technology Errors and Omissions Liability coverage including, but not limited, to Network Security, Privacy Liability and Product Failure coverage with limits of at least $1,000,000 per occurrence and $1,000,000 policy aggregate.