The Electronic Communications Privacy Act (ECPA) of 1986 prohibits wired or electronic service providers from disclosing information about customer communications unless disclosure is authorized by a court order, subpoena, warrant, or other exception. Failure to properly disclose such information may result in the provider being ordered to pay a fine. However, ECPA provides a safe haven for service providers who inappropriately disclose information by relying in good faith on a court order, subpoena or warrant.
Electronic Data Liability is the impact that individuals and organizations face that may result in the loss, damage, or inability to access or use data stored electronically. Impact is the subject of an exception to standard general liability policies and may be insured separately under an insurance policy that covers “electronic data incidents” resulting in damage, loss, inability to use, damage, inability to access. , or failure to properly manipulate electronic data.
Electronic Funds Transfer (EFT) coverage is coverage of a financial institution’s crime of erroneously transferring funds to or from a customer’s checking or savings account based on instructions fraudulently transmitted by a non-employee. There are two categories of this type of fraud coverage, voice and telefax, and they can be added by the rider to a bank or credit union bond or issued separately under the financial institution’s computer crime form.
Electronic product error and omission insurance is a form of policy designed to cover claims in which a malfunction or inoperability of electronic products results in financial loss rather than personal injury (BI) or property damage (PD). For example, suppose an accounting program contains a “bug” that causes a company using the program to understate its accounts receivable by $500,000 during a fiscal year. The Electronic Product Errors and Omissions (E&O) Policy covers the software manufacturer’s liability for damages incurred by the customer in these circumstances. Such policies are necessary because commercial general liability (CGL) insurance is limited to covering BI and PD liability, not financial loss liability.
An electronic signature is an electronic sound, symbol, or process affixed to or logically associated with a contract or recording and performed or accepted by a person with the intent to sign the recording.
The eligibility period is the period during which members of this group can enroll in a group benefit program (such as a 401(k) plan, health insurance, disability insurance, or life insurance).