(a) Commercial General Liability policy; Excess/Umbrella Liability policy to include coverage for Contractual Liability, Personal/Advertising Injury and Products and Completed Operations with limits of $3,000,000 per occurrence and $3,000,000 in the aggregate.
(b) Professional Liability Insurance insuring but not limited to Intellectual Property infringements, Contractual Liability with a limit of $1,000,000 per occurrence and in the aggregate.
(c) Cyber Insurance to include but not limited to Network Security and Data Privacy with a limit of $1,000,000 per occurrence and in the aggregate.
(d) Worker’s Compensation insurance with statutory limits to include Employer’s Liability with a limit of not less than $1,000,000.
We run an online SaaS business, just a small team of 2 people -- we have many clients and this is the first time we've ever received this. Is all of this necessary or is it common for lawyers to include this in contracts? Does anyone have this insurance?
