PYRAMID GROUP INTERNATIONAL, INC. (5)

Home Browse Search

Professional Liability Insurance Policy Claims Expense(s) means all costs, charges and expenses resulting from the adjustment, appraisal, investigation, defense, settlement, arbitration or appeal of any Claim covered by the terms and conditions of this Policy if such costs, charges and expenses are incurred by the Company, an attorney designated by the Company, or by any Insured with the written consent of the Company. Claims Expenses) shall not include the costs of investigating or administering any Claim by employees of the Company or loss of earnings incurred by any Insured in investigating, defending, settling, arbitrating or appealing any Claim at the Company's direction, except as provided in Section III. SUPPLEMENTARY COVERAGES AND PAYMENTS, Part B., DEFENDANTS REIMBURSEMENT. E. COMPUTER SYSTEM Computer System means computer software, hardware and firmware and associated input and output devices (including wireless and mobile devices) data storage and data processing devices, networking equipment and backup facilities, including cloud computing devices and facilities. F. DAMAGES Damages means any compensatory sum the Insured is legally liable to pay, including judgments, awards, or settlements negotiated with the approval of the Company. Where permitted by law and arising out of the services or activities covered by this Policy, Damages includes punitive or exemplary damages and the multiple portion of any multiplied award. Damages also include liquidated damages, but only to the extent of liability the Insured would have had in the absence of the agreement for liquidated damages. Damages shall not include: 1. Sanctions, taxes, fines, penalties imposed on the Insured; 2. Any withdrawal, return or reduction of professional profits, fees or the time and expense incurred by the Insured in addressing or resolving a Claim or Circumstance. G. DISCIPLINARY PROCEEDINGS Disciplinary Proceedings means any proceeding by an administrative, regulatory or disciplinary official, board, or agency to investigate charges of professional misconduct in the performance of or failure to perform Professional Services. However, Disciplinary Proceedings shall not include a criminal proceeding or an Organizational Peer Review. H. DRONES Drones mean unmanned aircraft vehicles that are not designed, manufactured or modified after manufacture to be controlled by a person from within or on such vehicles. I. ELECTRONIC DATA Electronic Data means information, knowledge or programs recorded on, stored on, created or used on, or transmitted to orfrom a Computer System. J. EXTENDED REPORTING PERIOD Extended Reporting Period means either: ECC-1313-0118 © Freberg Environmental, 2018 All rights reserved. RE,AE &APPROVED BY. Risk Management Specialist