Information Technology Liability

The Insured is a web-design and development company. The Insured was hired by the Claimant to build, design and develop its online catering software. The Claimant alleged that the Insured gained unauthorised access to its software and used proprietary information to produce a competing product. The Claimant alleges that this is an infringement of copyright/confidence, intellectual property and contractual relations.

The Insurer paid $200,000 in damages and an additional $150,000 of legal fees.

The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned.

As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained in this email is general only.  Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers, and will depend on the specific facts and circumstances involved.